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Micron falls as Samsung says it has made progress on HBM front

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October 31, 2024
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Micron falls as Samsung says it has made progress on HBM front
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Investing.com — Shares of Micron Technology (NASDAQ:MU) dropped 2.5% on Thursday after Samsung Electronics (KS:005930) revealed progress on its high-bandwidth memory (HBM) chip supply efforts, which appear to be advancing through key qualification tests.

The South Korean tech giant’s announcement, which Reuters reported, raised expectations for Samsung’s ability to compete in the lucrative AI-driven semiconductor market, sending its shares higher.

Samsung’s Executive Vice President Jaejune Kim shared that while there was a previous delay in the commercialization of its HBM3E chips, the company had made “meaningful progress” in tests with a major customer, speculated to be Nvidia (NASDAQ:NVDA).

Reuters noted that Nvidia holds approximately 80% of the global AI chip market, a factor that could significantly boost Samsung’s HBM sales if confirmed.

Kim added that Samsung anticipates improved HBM3E sales in the fourth quarter and plans to expand to additional customers.

Samsung’s announcement has stirred concerns of a potential oversupply in the HBM chip market, weighing on shares of other semiconductor companies, including SK Hynix and Micron.

With Samsung now vying for HBM dominance, the HBM market dynamics could be poised to shift.

This post appeared first on investing.com

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