2023-05-27 22:52:30
Samsung Electronics returns to ‘70,000 Electronics’… stock market
Samsung Electronics returned to ‘70,000 Electronics’ after a year and two months due to good news from the US semiconductor company Nvidia. Investors are paying attention to the direction of stock prices as stock markets also offer optimistic forecasts for future stock prices.
According to the Korea Exchange on the 28th, on the 26th, Samsung Electronics finished trading at 70,300 won, up 1,500 won (2.18%) from the previous day.
As for Samsung Electronics, semiconductor companies led by Nvidia showed a strong performance on the New York Stock Exchange, and Samsung Electronics (KS:) stocks are interpreted as having a warm wind. Nvidia announced a ‘Guidance Surprise’ (surprising performance forecast), and on the 24th (local time), after soaring by 27% in after-hours trading on the New York Stock Exchange, it also closed by 24.37% in the regular market that followed.
It was foreigners who raised the share price of Samsung Securities. From the beginning of the day, foreign buying continued strongly. Purchase orders for 4.16 million shares followed from Morgan Stanley, Merrill Lynch and UBS Securities. On this day, foreign investors bought Samsung Electronics worth more than 200 billion won. Foreigners bought Samsung Securities for 1.4375 trillion won this month alone. The cumulative amount for this year is 9.276 trillion won.
The stock market has a positive outlook on Samsung Electronics’ share price. It is analyzed that the stock price will rise further towards the end of the year as the effect of production cuts is expected.
Lee Seung-woo, a researcher at Eugene Investment & Securities, said, “Samsung Electronics is expected to achieve sales of 307 trillion won, an 11% increase, and operating profit of 40.4 trillion won, an 11% increase in 2024.” We expect that concerns about technological leadership that have been raised will gradually be alleviated.”
Head of the center continued, “Foreign net buying continued for five consecutive months starting this year, and foreign net buying is at an all-time high.” He added, “The memory industry is judged to be very close to the inflection point of the cycle due to the effect of production cuts and coordination, so we set Samsung Electronics’ target price. It will be raised to 90,000 won,” he said.
Kim Gwang-jin, a researcher at Hanwha Investment & Securities, said, “The global DRAM market is expected to enter the supply shortage zone from the third quarter. “he said.
Han Dong-hee, a researcher at SK Securities, said, “Considering the success in securing DRAM market shares in this down cycle, the low market share of latecomers, and the highest investment capacity, the momentum of the industry recovery period will be higher than in the past.” It will be the right time to invest.”
However, risk factors caused by external variables should also be taken into consideration. In particular, concerns about a US default are acting as a source of anxiety as the US debt ceiling negotiations have not been reached. In addition, if the timing of interest rate cuts by the US Federal Reserve (Fed) is delayed, there is room for limiting stock price rises.
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