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Technology Stocks : WDC, NAND, NVM, enterprise storage systems, etc.

SNDK 226.97

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Nov 24 3:59 PM EST

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From: JCnieuwenj	1/31/2018 11:07:44 AM
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thestreet.com Samsung Electronics ( SSNLF) issued a robust forecast for chip sales this year alongside its record annual earnings Wednesday and unveiled a 50-to-1 stock split that could ignite new retail investor interest into one of Apple Inc. ( AAPL) key global rivals. Samsung said it expect DRAM chip shipments to grow by 20% this year, while those of its NAND chipsets grow 40% in a forecast that is likely to challenge a minority market consensus that the sector's co-called "super cycle" is coming to an end. The outlook came as the group reported annual profits of 53.765 trillion Korean won ($50.2 billion), an 83% increase from 2016 and a record for the world's biggest chipmaker. Overall revenues for the year, Samsung said, rose 18.7% to 239.58 trillion won. Shares in the group ended the session in Seoul 0.2% higher at 2.495 million won each, trimming their decline from an early November record to around 12.8% amid concerns over pricing power in the DRAM and NASD chip markets and slowing demand for smartphones in a hyper-competitive global market. Rival SK Hynix Inc. was also pulled higher, rising 0.55% into the close of the session. Samsung also said it would spilt its shares on a 50:1 basis, with a planned listing of the new ratio on May 16. Samsung's chip division earned the lion's share of the group's overall profit, taking in a record 35.2 trillion won over the whole of 2017. Samsung's mobile division, which is a direct competitor to Apple via its flagship Galaxy line of smartphones, saw profits fall 3% in the final quarter of last year to 2.4 trillion won. Its display division, however, which provide OLED screens to Apple, saw fourth quarter profits jump 18% to 1.4 trillion won.

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