Consecutive Negative Outlooks... Samsung Electronics Plummets to '50,000 Won' During Trading [Featured Stock]

52-Week Low Recorded

Samsung Electronics fell below 60,000 won during trading, marking a 52-week low.

Seoul Samsung Electronics Seocho Tower. Photo by Yongjun Cho jun21@

As of 9:20 a.m. on the 2nd, Samsung Electronics was trading at 60,600 won, down 900 won (1.46%) from the previous close. During the session, the stock dropped to 59,900 won, breaking its 52-week low.

It is interpreted that the stock price decline was driven by a series of negative forecasts from securities firms. On the same day, Shinhan Investment Corp. reported increasing concerns about Samsung Electronics' semiconductor division and lowered its target price by 13.6% to 95,000 won. Kim Hyung-tae, a researcher at Shinhan Investment Corp., explained, "Concerns about the DS (semiconductor) division are growing due to weaker-than-expected smartphone demand, a slowdown in legacy memory demand, an expanded non-memory deficit compared to the previous quarter, and a delayed entry into the high-bandwidth memory (HBM) market compared to competitors. Additionally, exchange rate effects and one-time costs are damaging profitability, leading us to lower our third-quarter earnings outlook and revise down the target price." Furthermore, the foreign securities firm Macquarie downgraded Samsung Electronics' investment opinion from 'Buy' to 'Neutral' in a report released at the end of last month and sharply lowered the target price from 125,000 won to 64,000 won.

This content was produced with the assistance of AI translation services.