Positive.

From CNBC: 2024-07-05 00:59:28

Samsung Electronics stock surged to its highest level since January 2021 after announcing better-than-expected second-quarter profit projections, driven by AI demand. Operating profit is forecasted to jump 1,452% to 10.4 trillion won, with revenue expected to be between 73-75 trillion won. Memory chip recovery from last year’s losses played a significant role. Samsung’s Galaxy S24 Ultra smartphone is focusing on generative AI features. However, concerns remain about Samsung’s delayed HBM chip qualifications for Nvidia. Samsung is set to release detailed second-quarter results soon.



Read more at CNBC:: AI drives up earnings, shares pop