[Featured Stock] Samsung Electronics' Bottom: Even 56,000 Won Collapses to 'Yearly Low'

[Asia Economy Reporter Lee Seon-ae] On the 1st, Samsung Electronics fell again. The intraday price also broke below 56,000 won, setting a new 52-week low.

As of 2:47 PM on the 1st, Samsung Electronics was trading at 56,000 won, down 1.58%. The market plunged sharply that day, spreading a sense of fear. In addition, the securities industry’s downward revision of Samsung Electronics’ Q2 earnings forecast had a significant impact. Cape Investment & Securities lowered its target price to 90,000 won. Seongsun Park, a researcher at Cape Investment & Securities, stated, “In an environment where external negative factors persist, concerns about weak demand are spreading due to the possibility of an economic slowdown.”

Investor sentiment toward Samsung Electronics is cooling. The poor performance of the US semiconductor index overnight had an influence.

The Philadelphia Semiconductor Index in the US closed at 2,556.25, down 27.73 points (1.07%) from the previous trading day. Additionally, despite strong earnings reported by US memory chip maker Micron Technology for March to May, the company issued a weak guidance for Q4 2022 (June to August), worsening the industry outlook, which also acted as a negative factor.

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