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Samsung Slides 7% After Profit Surge; Hynix Plans Nasdaq Debut

7/8/2026

Summary

Samsung Shares Drop

Samsung shares fell 7% after the company reported a 19-fold profit increase to 89.4 trillion won ($58.44 billion).
Analysts said Samsung beat forecasts but missed lofty AI expectations, prompting profit-taking.
On July 7 2026 chip stocks fell sharply, with Intel down 9.7%, AMD down 6.5%, and Western Digital, SanDisk and Micron each losing over 7%.
SK Hynix announced a $28 billion Nasdaq listing, the second-largest after SpaceX.

Summary

US Revokes License

U.S. revoked a license for Iranian oil sales, dimming hopes for a Strait of Hormuz reopening.
Brent crude rose 3% to $74.16, lifting 10-year Treasury yield to 4.54%.
Oil-price surge added inflation pressure, raising fears of further Federal Reserve (Fed) and global-bank rate hikes.
Global equity indices slipped, with Kospi down 4.9%, Nikkei down 2.1% and DAX down 1.4%.
Rivian’s 75 million-share secondary offering diluted owners and sent stock down 18.1%.

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Samsung Shares Drop

Samsung shares fell 7% after the company reported a 19-fold profit increase to 89.4 trillion won ($58.44 billion).
Analysts said Samsung beat forecasts but missed lofty AI expectations, prompting profit-taking.
On July 7 2026 chip stocks fell sharply, with Intel down 9.7%, AMD down 6.5%, and Western Digital, SanDisk and Micron each losing over 7%.
SK Hynix announced a $28 billion Nasdaq listing, the second-largest after SpaceX.

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