Samsung and STMicro drives chip stocks up

European semiconductor stocks rose after Samsung Electronics and STMicroelectronics gave positive fourth quarter updates.

German chipmaker Infineon, Dutch semiconductor machine manufacturer ASML, and Austrian sensor maker Ams AG all saw their share prices rise by over 2% in morning trading on European stock markets.

STMicro 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.

STMicro sales for the full year came in at $12.76 billion, which is up 24.9% on last year.

Also, 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.

Samsung 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.

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