Samsung employees protest due to bonus disparity between chip and consumer device divisions

Samsung released its financial results for the second quarter of 2026 on Monday (06). The company recorded a significant increase in its operating profit, which reached the estimate of 89.4 trillion won, equivalent to US$ 58.44 billion or about R$ 300 billion, surpassing market projections.

Compared to the same period last year, when the profit was 4.7 trillion won (R$ 15.7 billion), Samsung's revenue is expected to grow by 129%, totaling 171 trillion won (R$ 574 billion). The company announced that it will present more detailed information on the profits of each business division on July 30.

Stock Decline and Concerns

Despite the strong results, Samsung's shares fell by 10.1%, while competitor SK Hynix stocks plummeted by 10.6%. Analysts cited by Reuters point out that this movement in the financial market stems from already very high expectations and fears that the expansion of Artificial Intelligence (AI) data centers may stagnate.

Albert Yong, managing partner at Petra Capital Management, explained that Samsung's good results were already widely anticipated and were largely reflected in the stock price before the announcement. He added that investors remain apprehensive about the sustainability of AI growth and the risk of reduced spending on AI infrastructure by large American technology corporations.

Revenue Analysis and Memory Market

Jing Jie Yu, an analyst at Morningstar, suggested that Samsung's revenue forecast was not as robust as the market expected. According to her, the slight devaluation was mainly caused by DRAM memory price increases that were more contained than anticipated, which may have alarmed investors who are increasingly attentive to the structural strength of memory prices.

Global Leadership in Chips

Although known for smartphones, Samsung's operations cover much more. South Korea leads the global manufacturing of DRAM memory chips, vital components for various electronic devices such as laptops and mobile phones. Samsung holds the world leadership position in DRAM memory revenue, surpassing both South Korean rival SK Hynix and American Micron. It is worth noting that Samsung's stock value has more than doubled since the beginning of the year, while SK Hynix saw an increase of over 200%.

Impact of the Memory Crisis

The global competition for AI development has begun to directly affect the end consumer. The rapid advancement of this technology has driven up demand for RAM memory, a fundamental component for all electronic equipment, from servers to tablets and smartphones. Due to the current production inability to meet all demand, the cost of these chips has skyrocketed.

This shortage is fueled by the purchase of large volumes of memory by tech giants such as Nvidia, AMD, and Google, to equip their AI-focused data centers. This lack of stock has created a domino effect that has already reached retail and is modifying future sector projections. The increase in costs for consumers is already occurring, as exemplified by Apple's announcement of price adjustments for MacBooks and iPads, classifying the supply crisis as an unprecedented challenge.

Data from the Gartner consultancy indicates that a 17% increase in personal computer prices and a 13% increase in smartphone prices compared to 2025 levels is expected.

Uncertainties in the Manufacturing Sector

Analysts identify the main risk to memory consumption growth as a possible decrease in investments in AI infrastructure. Large companies rely on substantial loans to fund these projects, whose returns are uncertain, which could influence chip demand.

Historically, the memory market goes through cycles of expansion and contraction. However, currently, the demand generated by AI exceeds industrial capacity. Since building new factories takes several years, supply remains limited. While some experts believe this scenario could expand the structure and sustain growth, others express concern about potential future inactivity.