Samsung Electronics forecasts a record operating profit of ₩107.4 trillion, equivalent to approximately $80 billion, for the third quarter. This performance represents a 782.5% increase compared to the same period last year. The company is set to release a detailed breakdown of its business results on October 29.
The surge in profit is primarily driven by high demand for memory chips used in artificial intelligence servers and data centers. Shipments of high-bandwidth memory chips increased by nearly 50% compared to the second quarter. Conversely, the mobile division faced challenges, with analysts reporting losses exceeding $1 billion due to rising chip costs.
Market analysts maintain varying price targets for Samsung stock. Goldman Sachs has set a target of ₩490 000, while Korea Investment & Securities projects a target of ₩650 000. In contrast, BNK Investment & Securities maintains a target of ₩270 000, citing concerns over industry-wide capacity expansion and slowing growth.
Recent market activity saw foreign investors sell a net ₩348.5 billion in stock, while institutions sold ₩647.7 billion. Analysts anticipate that fourth-quarter profit growth will slow to 8.2% from the 20% growth observed this quarter. Furthermore, Samsung and Micron expect the current chip shortage to persist until 2028.
