[Special Stock] Samsung Electronics Up 3% and SK Hynix Up Over 7% on Micron's Surprise Earnings

Samsung Electronics and SK Hynix are showing a strong upward trend in early trading, boosted by Micron's surprising earnings.

As of 9:13 a.m. on the 26th, Samsung Electronics is trading at 64,500 won, up 2,300 won (3.7%) from the previous day. SK Hynix is recording 178,000 won, up 7.8%.

The semiconductor stocks are showing a strong rise for the first time in a while, which is attributed to Micron's strong performance. Micron, the largest memory semiconductor company in the U.S., announced earnings that exceeded market expectations and surged nearly 14% in after-hours trading. On the 25th (local time), Micron announced in its quarterly earnings report that its revenue for the fourth quarter of fiscal year 2024 (June to August 2024) reached $7.75 billion, a 93% increase compared to the same period last year. This amount exceeds the market forecast of $7.65 billion compiled by FactSet. Earnings per share (EPS) were also recorded at $1.18, surpassing the market expectation of $1.11. The future guidance is also positive. Micron raised its revenue forecast for the next quarter to $8.7 billion, up from the previous $8.28 billion. This significantly exceeds Wall Street's estimate of $8.32 billion.