What They Say
Key device makers, Samsung and Apple reported their results. Sales for Samsung were $55.55 billion in Q2, up 20%, with profits of $10.96 billion. Semiconductors, displays, mobile and CE were all good. The display business saw sales of $6 billion and operating profits of $1.11 billion. The continued move to OLEDs in smartphones contributed as did good ASPs The firm said that it had invested $700 million in displays, bringing its capex in displays to $1.22 billion so far this year.
Apple also had a good time with revenue up by 36% to $81.4 billion in the quarter with operating income of $24.1 billion and net income of $21.7 billion.
What We Think
Samsung also said in its financial announcement that it will start to ship QD OLED within a year. We have seen other reports from Korea on that topic and will report those separately. We also saw good profits for Alphabet (Google), Microsoft and Facebook.. These are happy days for tech investors as well as panel makers! (BR)
Samsung’s stock price has been relatively stable this year after a doubling in 2020.
