Samsung Electronics hits 52-week high
Published: 29 Jun. 2023, 11:31
Samsung Electronics' rise follows U.S. chipmaker Micron beating market expectations for its third quarter fiscal 2023 earnings overnight. Micron's revenue came in at $3.75 billion, beating analyst forecast of $3.69 billion.
The memory chipmaker's stock rose more than 4 percent during after-hours trading.
"We believe that the memory industry has passed its trough in revenue, and we expect margins to improve as industry supply-demand balance is gradually restored," Micron CEO Sanjay Mehrotra said.
SK hynix rose 1.57 percent to 116,100 won.
BY SOHN DONG-JOO [sohn.dongjoo@joongang.co.kr]
with the Korea JoongAng Daily
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