Heard on the Street: Samsung’s first-quarter profit warning should serve as a red flag to investors assuming the chip market will improve this year
Chip makers’ stocks have enjoyed a pretty good run in 2019. Samsung Electronics’ admission it’s having an ugly quarter should put paid to that.
The world’s largest chip maker delivered a rare profit warning Tuesday, saying earnings this quarter would be even worse than market forecasts—and the forecasts were dismal. Analysts had predicted Samsung’s worst slump since 2014, with operating profit down by more than 50% from a year earlier. The Korean company blamed weak global demand for the two products that delivered nearly...
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