Korea’s electronics giant Samsung posted a profit surge in the past quarter. The net result jumped according to preliminary figures by 53 percent to the equivalent of eleven billion dollars. By Stephan Bauer, Euro am Sonntag
That was well above the analysts’ estimates. The increase was due to increased prices for memory chips as well as a restarted business in chip contract manufacturing, after outages at the US plant in Austin / Texas. Also included is an unspecified one-off payment for the display division of the group. This could be a transfer from the customer Apple, who may have ordered fewer OLED displays than planned, argued experts. According to estimates, profit with memory chips could have jumped by around 80 percent and make up more than half of the total profit, according to analysts.
Potential: Given the high growth rates in earnings, the valuation is moderate. Tech paper with potential.
Target price: 1,600.00 euros
Stop rate: 1,190.00 euros