Samsung Electronics
TechnologyKRX
Samsung returns to profit growth as AI memory sales surge
New management, deep undervaluation, and memory recovery set up high upside.
Bull case for Samsung Electronics
Nvidia Partnership Secured
Samsung Electronics is now an approved supplier of HBM3E memory for Nvidia, a strategic breakthrough after lagging in AI memory.
New Leadership
The new Co-CEO, Jun Young-hyun, has clear authority and turnaround credibility.
Deep Value
Samsung Electronics is trading well below analyst estimates of fair value.
Bear case for Samsung Electronics
HBM Turnaround Unproven
Samsung Electronics still lags SK Hynix and Micron in qualifying HBM.
Persistent Smartphone Pressure
Chinese handset makers are winning share at the mid and low end.
Execution Risk Remains High
Repeat missteps keep shares cheap. HBM is Samsung’s second major slip (after Note 7) in under a decade.