00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Samsung shares rose as much as 4.8% Tuesday after the company forecast record first quarter profit
00:07driven by demand for artificial intelligence chips. According to CNBC, Samsung projected an
00:12operating profit of $57.2 trillion for January through March, up from $6.69 trillion a year
00:18earlier and above estimates of $42.3 trillion. The company forecast revenue of $133 trillion,
00:24up nearly 70% year over year. Demand for high bandwidth memory chips drove growth and created
00:28shortages, with prices expected to rise more than 50% in the second quarter. Samsung said
00:33the Middle East conflict has disrupted shipments of key semiconductor materials and warned prolonged
00:37disruptions could lead to severe consequences for production and profits.
00:41For all things money, visit Benzinga.com.
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