Samsung earnings guidance boosts chip stocks

Yahoo Finance Live anchors discuss earnings expectations for Samsung.

Video transcript

BRAD SMITH: Also here, let's talk about Samsung shares. They're receiving a boost after reporting preliminary results for the quarter ending in June. The earnings guidance also spurring momentum to the upside for other chip makers here, and it was interesting what they pointed out here because it's at a time where LG had actually come out and said the exact opposite thing.

And so their consolidated sales, they're looking for approximately 77 trillion Korean won and operating profit of 14 trillion Korean won. LG on the other side, they're looking for a 12% earnings fall based on weaker demand here. And both of those guidance is coming out on the same day here, Soz.

BRIAN SOZZI: Yeah, and also, you're seeing some really strong gains by some of the competitors, some of the companies that play in that Samsung space. SK Hynix shares up, Taiwan Semiconductor hot ticker on the platform right now, United microelectronics catching a bid here off of this. It looks like the street is just really locking in on that 21% sales increase for the company. But Brad, I do think this is very company-specific or expectations, and it may have gotten too low for Samsung. I still think that Micron report in that earnings last week is a better tell on what we might hear from an Intel and Nvidia and an AMD when they report earnings in a couple of weeks.

BRAD SMITH: Yeah, it's spot on. Keeping a close eye on the chip space and semis particularly here.