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Samsung guides for 19-fold surge in Q2 operating profit on AI-driven memory tightness

AI Market Summary
Samsung guided for a ~19x YoY jump in Q2 operating profit and sharply higher revenue, materially above expectations, driven by AI-led demand tightening the memory market. Reported quarter-on-quarter price gains for HBM-linked DRAM and NAND indicate an accelerating upcycle despite higher bonus accruals. The update supports near-term sentiment for Samsung equity and memory-exposed peers and ETFs.
Impact level
● Medium
Affected assets
NCSKSAMSUNG2USD/USDT-4.46%
AI Insight · NCSKSAMSUNG2USD/USDTAI Insight
▲ Bullish
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⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
Samsung Electronics said it expects operating profit for the second quarter of 2024 to reach 89.4 trillion won, up 19 times from a year earlier and well above market expectations. Revenue is projected to rise 129% year over year to 171 trillion won. The company pointed to accelerating AI investment as a key driver, lifting prices for high-bandwidth memory (HBM) as well as conventional DRAM and NAND. Citi data show quarter-on-quarter price gains of 44% for DRAM and 53% for NAND. Despite sizable bonus expenses booked by the semiconductor division, profitability remained robust and surpassed forecasts. The guidance provided a tailwind for Samsung shares and memory-focused ETFs.
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