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Samsung shares fall on chip boom peak prediction

Monday, November 27, 2017 - 00:51

Samsung Electronics Co Ltd's shares fell more than 4 percent to a one-month low on Monday after Morgan Stanley cut its recommendation on the South Korean tech giant, citing concerns that a boom in memory chips is likely to peak soon. Ciara Lee reports

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Its recent profit rise has been largely thanks to a so-called memory chip "super-cycle" But Samsung's shares fell more than 4 percent to a one-month low on Monday after Morgan Stanley cut its recommendation on the South Korean tech giant. It's concerned that the boom in memory chips is likely to peak soon. The demand for more firepower in servers and smartphones was the major driver of Samsung's record third-quarter profit of $12.91 billion But investors have been focused on how long it will last Still, shares are up more than 47 percent this year And some analysts say Samsung is less likely to be affected by the predicted trends in chip prices than competitors like SK Hynix.

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Samsung shares fall on chip boom peak prediction

Monday, November 27, 2017 - 00:51