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Samsung’s Galaxy Unpacked event delivered three new foldables and two smartwatches, all powered by Qualcomm’s Snapdragon platform. QCOM shares closed up 1.23% at $175.63.
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Samsung’s blowout earnings weren’t enough to satisfy the market, triggering a 7% drop in its stock and a 5% plunge in the Philadelphia Semiconductor Index as investors fret over AI spending.
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Samsung’s blowout earnings weren’t enough to satisfy the market, sparking a broad tech sell-off that rippled through global chip stocks. Apple shares held at $312.66 as U.S. markets were closed for the holiday.
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Samsung Electronics’ Q2 operating profit surged nearly 19-fold to a record 89.4 trillion won, fueled by insatiable AI memory demand. Nvidia (NVDA) ticked up 0.37% in after-hours trading.