[Market Focus] Samsung Electro-Mechanics Surges 7% on Expectations of Benefiting from Samsung Electronics-Tesla Alliance
Samsung Electro-Mechanics is showing a sharp rise of over 7% on expectations of benefiting from the contract between Samsung Electronics and Tesla.
As of 9:17 a.m. on July 30, Samsung Electro-Mechanics is trading at 1,478,000 won, up 104,000 won (7.57%) from the previous day.
It appears that the analysis by securities firms, which suggests that Samsung Electro-Mechanics is expected to benefit from Samsung Electronics' contract with Tesla for semiconductor foundry supply worth 16.5 billion dollars (approximately 22.8 trillion won), is influencing the stock price.
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On this day, Park Kangho, a researcher at Daishin Securities, stated, "Regarding the supply contract for artificial intelligence semiconductors (AI6) between Samsung Electronics and Tesla, the flip-chip ball grid array (FC-BGA) business of Samsung Electro-Mechanics is expected to draw attention." He added, "Samsung Electro-Mechanics supplies FC-BGA, the semiconductor substrate for Samsung Electronics and Tesla's previous AI4 and AI5 semiconductors. With this supply contract by Samsung Electronics, the cooperative relationship between Tesla, Samsung Electronics, and Samsung Electro-Mechanics will be further strengthened."
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