قالب وردپرس درنا توس
Home / Business / Chip shares take a hit after Samsung warns that profits can be cut in half

Chip shares take a hit after Samsung warns that profits can be cut in half



Shares of semiconductor manufacturers have great weakness Friday, in the wake of a warning from South Korea's based electronics, Samsung Electronics Co., maintained that the second-quarter result could be smaller than it was last year.

PHLX Semiconductor Main Page

SOX, -0.58%

compared past losses of as much as 1.6% to fall 0.7% in afternoon trading, 26 of 30 components lost ground. VanEck Vectors Semiconductor Exchange-traded Fund

SMH, -0.67%

was down 1.7% earlier, but bounced slightly to be down 0.8, with 22 of 25 components trading lower.

which exceeded the weakness of the broader stock market, in as the technology-friendly Nasdaq Composite

COMP, -0.10%

lost 0.2% and Dow Jones Industrial Average

DJIA, -0.13%

gave up 38 points, or 0.1%.

Samsung said overnight that it expects operating profit in the second quarter to fall 56% from a year ago to 6.5 trillion (5.6 billion), in view of a weak demand for memory cards, worsened by the ongoing US China trade war. The company is scheduled for final reporting later this month.

Samsung's warehouse

005930, -0.76%

fell 0.8% in night trading.

Among the most active components in the chip sector was Qualcomm's stock

-0.05% which decreased 0.2%.

In its latest annual report, Qualcomm announced that Samsung accounted for more than 10% of revenue in 2018, 2017 and 2016. Also, weighing at Qualcomm is reports that the chip maker lost in his efforts to block an antitrust decision against it while appealing the decision. .

Intel Corp. & # 39; s action


Source link