Thu, 06-Aug-2020
Tuesday 28 Jul 2020 , 9:29 am

Samsung Electronics Shares Rally on Intel’s Chip Outsourcing Plan

Shares of Samsung Electronics rose as much as 5.8% at one point to their highest level in about five months and were on track to finish higher for a third consecutive session.
By SIN Bureau
Share at:

Shares of Samsung Electronics rallied on Tuesday, joining its bigger rival TSMC, driven by growing expectations that the chipmakers may benefit from Intel Corp’s plan to outsource more chip manufacturing.

Shares of Samsung Electronics rose as much as 5.8% at one point to their highest level in about five months and were on track to finish higher for a third consecutive session.

Intel said on Thursday its new 7-nanometer chip technology was six months behind schedule and it would consider farming out more work to outside semiconductor foundries. The U.S. chipmaker also said on Monday that its chief engineering officer had left the company.

Shares of Taiwan Semiconductor Manufacturing Co Ltd (TSMC) also extended gains on Tuesday, jumping 5% after hitting a record-high on Monday on Intel’s woes.

With a market value of 11.66 trillion new Taiwan dollars ($398 billion), TSMC has a higher market capitalisation than Samsung Electronics, a diversified tech giant which is valued at 369.18 trillion won as of Tuesday. ($1 = 1,193.5600 won)

Samsung Electronics is taking on TSMC in the chip contract manufacturing business, announcing last year a plan to invest 133 trillion won ($111.43 billion) in non-memory chips through 2030.

Samsung, the world’s top memory chipmaker, also makes displays, smartphones and TVs, among others.

Read Here




Neha Mule

Neha writes articles on sectors including medicine, food, materials, and science & technology. A qualified statistician, she has the ability to observe and analyze the trends in global markets and write compelling articles that help CXOs in decision making. She is a bookworm and loves to read fiction, lifestyle, science and technology. Neha comes with 6 years of experience in content writing and editing that involves blog writing, preparation of study materials and OERs.

More from Neha Mule

Smart News, Updates and Insights Drive Smarter Decisions

Smart Industry News is a one stop shop of industry news across the globe. We have a team of experts who provides latest updates on industry news to our readers daily. The news available on our website is general information and does not provide our customers with any legal or professional advice specific to any industry...

sales@smartindustrynews.com
media@smartindustrynews.com

Subscribe to our newsletter
Get the latest in your inbox weekly Sign up for the fully charged newsletter
Follow Us:
© The News and Media Division of The Insight Partners 2019 | All Rights Reserved