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The Star

Samsung projects 19-fold surge in Q2 operating profit to 89.4 trillion won as AI lifts memory prices

AI Market Summary
Samsung guided to a 19x YoY jump in Q2 operating profit, driven by AI-led tightness lifting HBM and broader DRAM/NAND pricing. The beat versus expectations reinforces the view that memory pricing is in an upcycle supported by constrained capacity and longer-term supply contracts. While shares dipped on the day, the update is supportive for Samsung and the broader memory and AI hardware supply chain near term.
Impact level
● Medium
Affected assets
NCSKSAMSUNG2USD/USDT-4.61%
AI Insight · NCSKSAMSUNG2USD/USDTAI Insight
▲ Bullish
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Samsung Electronics said its 2024 second-quarter operating profit is expected to reach 89.4 trillion won, up 19 times from a year earlier and above market expectations. The company also projected revenue rising 129% to 171 trillion won. Higher AI-related investment pushed up prices for high-bandwidth memory as well as conventional DRAM and NAND, with Citi Research putting the quarter-on-quarter gains at 44% and 53%. Samsung’s guidance boosted its shares and memory-focused ETFs.
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