Nvidia Earnings and Samsung Strike Updates Affect Sandisk
Nvidia reported a significant earnings growth on May 18, 2023, with a record quarterly revenue of $81.6 billion, marking an 85% increase year-over-year. Notably, 92% of this revenue stemmed from AI chip sales, leading to a gross profit margin of 74.9% and net profits of $58.3 billion ($2.39 per share). Meanwhile, Sandisk’s stock rose 6.2% following this announcement, as their gross margin was even higher at 78.4% in the last quarter.
In South Korea, Samsung Electronics ended an 18-day labor strike on May 18, 2023, after reaching an agreement with union representatives to share AI chip profits. This development could increase competition for Sandisk, as Samsung is the world’s largest producer of DRAM and NAND memory, potentially impacting price dynamics in the market.
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