Samsung's quarterly profit hits 3-year high on AI chip demand
Samsung just posted its biggest quarterly profit in over three years, reflecting surging AI-related demand for memory chips.
For the July-September quarter, operating profit was 12.1 trillion won ($8.5 billion), beating expectations.
Revenue also climbed 9% to 86 trillion won, and investors seemed happy—Samsung's stock went up by as much as 3.1% in Seoul.
Analysts raise price targets for Samsung ahead of full report
Shipments of Samsung's high-bandwidth memory (HBM) chips shot up by about 70-80% from last quarter, with new orders from AMD and hopes pinned on NVIDIA approving its latest HBM3E chips soon.
Analysts are feeling optimistic, raising their price targets for Samsung ahead of the company's full financial report on October 30.
But looking ahead, experts say staying on top will mean nailing the next-gen HBM4 chips as Samsung tries to reclaim its lead from SK Hynix in the AI chip race.