Micron Technology (MU) and Sandisk (SNDK) shares rose in Wednesday's premarket trading after fellow memory chipmaker Samsung Electronics projected increased Q1 sales and profits.
The world's largest memory chipmaker said it expects Q1 sales of around 132 trillion to 134 trillion Korean won ($89.29 billion to $90.64 billion), up from 79.14 trillion won a year earlier.
Meanwhile, Q1 operating profit is projected to be between 57.1 trillion and 57.3 trillion won, up from 6.69 trillion won a year earlier.
Shares of Micron rose more than 10% pre-bell, while Sandisk gained 9%.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments