Overview

• Samsung’s preliminary Q3 guidance pegs operating profit at 12.1 trillion won and revenue at a record 86 trillion won, its strongest quarter since 2022.
• Analysts say tighter supply and AI server demand lifted conventional DRAM and NAND prices, with some DRAM products up 171.8% year on year, and foundry losses narrowed.
• The semiconductor division is estimated to have contributed roughly 6 trillion won in operating profit, making it the primary driver of the rebound.
• High‑bandwidth memory remains a constraint as shipments of 12‑layer HBM3E to Nvidia have lagged, though reports point to progress and orders tied to AMD and OpenAI’s Stargate project.
• Samsung plans to release full results and business breakdowns later in October, while analysts caution about potential U.S. tariffs, China export controls and a possible 2026 oversupply risk.