Samsung Electronics Falls 9%, SK Hynix Drops 14.57% on Meta AI Concerns; Brokerages Raise Price Targets on Strong Q2 Results

According to Herald Economics, Samsung Electronics and SK Hynix fell sharply on July 2 amid concerns that Meta's shift into cloud computing signals AI overcapacity. Samsung dropped 9.06% and SK Hynix fell 14.57%, the latter marking its steepest one-day decline since November 2008. Despite market pessimism, brokerages raised target prices, citing robust second-quarter performance; Samsung is expected to post 173 trillion won in revenue and 85 trillion won in operating profit, while SK Hynix is forecast to deliver 83 trillion won in revenue and 64 trillion won in operating profit.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments