[Featured Stock] Samsung Electronics Rises for 3rd Day... Surpasses 88,000 Won

Samsung Electronics continued its upward trend for the third day, reaching the 88,000 won level.

As of 9:09 AM on the 8th, Samsung Electronics is trading at 88,500 won, up 1,400 won (1.61%) from the previous close. During the session, it rose to 88,600 won, setting a new 52-week high.

The strong performance in the second quarter of this year is believed to be supporting Samsung Electronics' stock price strength. On the 5th, Samsung Electronics announced that its operating profit for the second quarter reached 10.4 trillion won, an increase of 1452.24% compared to the same period last year. During the same period, sales amounted to 74 trillion won, up 23.31% year-on-year. Park Yu-ak, a researcher at Kiwoom Securities, said, "This level greatly exceeds expectations," and analyzed, "The improvement in profitability in the semiconductor sector exceeded expectations due to the stronger-than-expected effects of rising memory prices and the KRW-USD exchange rate in the latter part of the quarter." Kiwoom Securities raised Samsung Electronics' target stock price from 110,000 won to 120,000 won.

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