European semiconductor stocks rose on Friday after Samsung Electronics and STMicro issued positive fourth quarter updates.
Meanwhile, STMicro saw its own share price rise by over 4% after it published higher-than-expected fourth quarter sales on Friday.
The French-Italian chipmaker announced preliminary fourth-quarter revenue of more than $3.5 billion, which was above a company forecast of $3.4 billion.Elsewhere, Samsung estimated Friday that its fourth-quarter operating profit jumped 52% as a result of strong demand for its memory chips and rising orders for its contract chip manufacturing services.
If the predictions are accurate, the last quarter would be the South Korean tech giant's best final quarter since 2017. The world's largest smartphone and memory chip maker said it expects to log nearly $11.5 billion in profit for the final quarter, which ended in December. It will release its full set of numbers later this month.. This resulted in increased delivery times on a range of products including cars and the new PlayStation 5.For example,
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