FILE PHOTO: A customer stands near Samsung logo during Galaxy Note 8 consumer launch event in Jakarta, Indonesia September 29, 2017. REUTERS/Beawiharta
SEOUL (Reuters) – Shares of Samsung Electronics (005930.KS) rallied on Tuesday, joining its bigger rival TSMC (2330.TW), driven by growing expectations that the chipmakers may benefit from Intel Corp’s (INTC.O) plan to outsource more chip manufacturing.
Shares of Samsung Electronics rose as much as 5.8% at one point to their highest level in about five months and were on track to finish higher for a third consecutive session.
Intel said on Thursday its new 7-nanometer chip technology was six months behind schedule and it would consider farming out more work to outside semiconductor foundries. The U.S. chipmaker also said on Monday that its chief engineering officer had left the company.
“Samsung could benefit as Intel will outsource more chip manufacturing,” Nomura analyst