Samsung Electronics shares drop after Morgan Stanley cuts view
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Seoul
SAMSUNG Electronics Co Ltd's shares fell more than 4 per cent to a one-month low on Monday after Morgan Stanley cut its recommendation on the South Korean tech giant, citing concerns that a boom in memory chips is likely to peak soon.
A so-called memory chip "super-cycle" of increased prices due to demand for more firepower in servers and smartphones was the major driver of Samsung's record third-quarter profit of 14.5 trillion won (S$17.9 billion) announced in October, with investors focused on how long it will last.
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