Samsung Electronics stock hits new highs on record earnings forecast - SamMobile
Terminal updated: July 13th, 2017 at 11:02 UTC+01:00
Samsung Electronics stock has been performing spectacularly over the past yr as the visitor's turnaround story has proven to exist one for the history books. Fifty-fifty when there was much uncertainty on the company'southward leadership front investors were still pushing the stock to new highs.
Now that the company has forecasted record earnings, investors are more bullish on the stock than ever earlier. No wonder why the Samsung Electronics stock price has reached a new all-fourth dimension high. The yr-to-appointment return on Samsung Electronics stock currently stands at twoscore.29 per centum. That's impressive, to say the to the lowest degree.
The company'due south stock hit an best high of 2,541,000 won or $2,232 during early forenoon trading today. The trend has been on the upside in recent days so it has non at all been surprising to see the stock intermission the 2.v million won mark for the first fourth dimension ever.
The positive trigger comes from Samsung's earnings guidance for the second quarter of this yr. It has predicted consolidated sales of lx trillion won or $53 billion with an operating turn a profit of xiv trillion won or $12.1 billion.
These figures are going to make Samsung the most profitable technology company in the world in Q2 2017. It will overtake Apple in operating profit for the beginning fourth dimension ever.
It will be far alee of the major tech companies like Google, Facebook, Amazon and Netflix who posted $11.fifteen billion in operating turn a profit combined in the previous quarter.
As I mentioned, this is proving to exist i for the history books.
Source: https://www.sammobile.com/2017/07/13/samsung-electronics-stock-hits-new-highs-on-record-earnings-forecast/
Posted by: rheathaniorefore.blogspot.com
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