Samsung Electronics' extraordinary profitability despite an FX hit and rising DRAM prices undermine the case for a memory-price crash. It is the world's most profitable company. Wall St Engine's Q3 summary reports $80.4B in operating profit, up 783% year over year, DRAM selling prices up about 20% quarter over quarter, and Samsung's expectation that memory supply stays tight into 2028. x.com 

More memory CapEx may yield proportionally fewer bits as HBM consumes more wafer capacity, supporting SK hynix and Samsung's pricing. Both reported double-digit quarterly DRAM and NAND price gains; Samsung targets 60-70% of mid- to long-term capacity under LTAs. SK hynix has the stronger execution record, but Samsung could benefit enormously from conventional memory without winning HBM4. If trends persist, normalized margins could rise, though memory remains cyclical. x.com 

Samsung's record quarter looks closer to a peak than a new base: conventional DRAM shipments are flat year on year, while higher prices per bit drove profits despite a revenue miss. Its phone unit is cutting output because memory costs too much, and AI chip designers are seeking to use less HBM. Buyers' response threatens the price-led margin surge. The October 29 divisional earnings breakdown may show whether memory profit grew much faster than group profit. x.com 

Samsung Electronics' Q3 profit is even more impressive than it looks, because the won surged 4-5% quarter on quarter while most of its expenses are in won and its sales are in dollars. Delivering that profit through a stronger won points to even higher underlying margins. x.com 

SK hynix's surging earnings challenge the idea that commodity memory profits are about to vanish. The attached report says third-quarter operating profit rose more than sevenfold and its operating margin reached 80%; analysts quoted there expect the earnings climb to continue at least through next year. Micron and Samsung are named alongside SK hynix. x.com 

Samsung Electronics faces downside risk because its parabolic run has made market expectations unrealistic, so one mistake could release gravity. Wall Street Engine's Q3 highlights showed revenue, operating profit and net profit below estimates despite triple-digit year-over-year growth. x.com 

Samsung Electronics' HBM4 pricing looks set to lead the memory Big Three, helping make next year's earnings phenomenal. Samsung memory EVP Jaejune Kim said next year's HBM supply is sold out at target prices, with more customer requests coming. Korean media had reported quotes in the mid-to-high $4/Gb range; Nvidia appears to have accepted Samsung's asking price. Samsung-equipped Rubin variants should sell as separate premium-priced SKUs against SK hynix or Micron versions. x.com 

A Samsung earnings miss should spark a rally that marks the start of the next leg up for memory stocks including Micron, SK hynix and SanDisk. A quoted post sums up the setup: Samsung just posted the most profitable quarter ever by any company, yet trades at a forward P/E of 4. x.com  x.com 

AI equity momentum is fading, and when great news fails to move a stock up, that is a very bearish sign. TeraWulf's 20-year, $19 billion Anthropic contract saw its shares fade from +17% to +5%, SK hynix trimmed fundraising for its US listing, and SpaceX's Nasdaq inclusion is historically a top signal. Fade rate hikes. x.com 

Samsung's HBM4 ramp makes SK hynix's ability to defend its HBM lead the key question in the memory race. Chosun Biz reports SK hynix's HBM4 shipments may have missed expectations for a second straight quarter amid Nvidia Rubin delays and chip tuning. Counterpoint puts Samsung's Q2 HBM share at 33%, up from 21%; TrendForce expects strong SK hynix Q3 profits. Samsung is the preferred memory stock right now, though there may be no single clear winner. SK hynix's October 28 report is the next check. … Show more