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The share price of Samsung Electronics, which broke 70,000 won per share, is hardly recovering. Officials in the financial investment industry are of the opinion that the third quarter must pass for a meaningful recovery of Samsung Electronics’ stock price. Rather, as the current price is at the bottom, the opinion that this is a buying opportunity is overwhelming.
According to the Korea Exchange on the 5th, Samsung Electronics closed at 69,200 won, down 0.14% (100 won) from the previous trading day. Compared to the beginning of the year, the return was -11.62%, which was lower than the KOSPI return of -7.33% during the same period. The decline in yields is due to foreign and institutional selling. From the beginning of the year until this day, individuals have net bought 6.67 trillion won of Samsung Electronics stock. On the other hand, foreigners and institutions net sold 1.29 trillion won and 5,477.6 billion won, respectively.
Samsung Electronics’ stock price recorded 75,800 won on February 10, the highest level this year, but since then it has shown a steady decline, dropping to 68,600 won intraday on April 4, pushing to the lowest level this year. This is 300 won higher than the 250-day low (68,300 won) recorded on October 13 last year.
The sluggish share price of Samsung Electronics can be summarized as concerns over stagnant profitability. Various problems have risen to the surface, including skepticism about the improvement of the memory industry, concerns about a peak out (down after peak) in the home appliance sector last year, and sluggishness in the mobile sector.
On February 22, according to foreign media such as Bloomberg News, Qualcomm of the United States reported that it had decided to entrust Taiwan’s TSMC to the 3nm process next-generation application processor (AP) foundry, which will be released next year, instead of Samsung Electronics. This is an issue that drew the attention of shareholders at the Samsung Electronics shareholders’ meeting held on the 16th of last month. In addition, concerns over earnings due to sluggish yields in the foundry sector and controversy over the game optimization service (GOS) have reached their peak amid growing distrust.
Lee Seung-woo, a researcher at Eugene Investment & Securities, pointed out that “the situation is being marked with question marks about Samsung’s technological prowess and future.” “The share price is sluggish, but the semiconductor industry continues to be strong this year as well,” he said. said.
Eo Gyu-jin, a researcher at DB Financial Investment, also pointed out that the recent slump in stock prices is because “the market has not yet been able to trust the robust performance following a rebound in memory prices in the second half.” As concerns grow, a mid- to long-term strategy seems important to prevent such a major issue from reoccurring.”
Concerns over a peak out of the home appliance division are also high. Lee Dong-hyeon, a researcher at Research Rum, said, “As the home appliance sector hit an all-time high last year, concerns that this year will be less than the previous year seem to be partially reflected in the share price.”
In addition, the strong dollar is also encouraging foreigners to leave. The won-dollar exchange rate closed the day at 1212.60 won. Since mid-February, the exchange rate has been steadily rising and falling at 1,200 won per dollar. In March, it was trading at an average of 1210 won. The strengthening of the dollar is encouraging foreigners to leave. “As the dollar strengthens, foreign investors are preferring to sell Samsung Electronics, a large-cap stock that does not have a heavy trading burden,” explained Lee Dong-hyun, a researcher at the time.
However, the financial investment industry agrees that the stock price is highly likely to rise in the second or third quarters. Jaeyoon Lee, a researcher at Yuanta Securities, said, “The DRAM spot price, which had stalled in March, is expected to enter a rising phase again from April to May. This will continue,” he said. Researcher Lee Seung-woo said, “The current share price is at the lower end of this year’s estimated share price range, so the share price is highly likely to rise during the second and third quarters.”
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