September Nasdaq 100 E-Mini futures (NQU26) are down -0.97% this morning as chipmakers came under renewed selling pressure after a blowout forecast from Samsung Electronics failed to impress investors.
Samsung, the world’s largest memory chipmaker by market value, delivered a rosy update today, projecting a 19-fold surge in Q2 operating profit. However, that was not enough to satisfy investors’ lofty expectations. The company’s shares sank as much as -10% before closing down -6.9% in Seoul, triggering a global selloff in chip stocks. U.S. memory chipmakers Sandisk and Micron Technology slumped over -5% in pre-market trading.
