Samsung Electronics topped 90,000 won intraday in the Nextrade pre-market (8 a.m. to 8:50 a.m.).
As of 9:38 a.m. on the 23rd, Samsung Electronics is trading at 84,450 won, up 1.14% from the previous day. The share price at one point during the session soared to 91,000 won, surpassing 90,000 won.
This came after reports the previous day that Samsung Electronics' 12-high HBM3E, a fifth-generation high bandwidth memory (HBM), passed Nvidia's quality test.
Overnight on the New York stock market, all three major indexes hit fresh record highs on Nvidia's large-scale investment announcement and Apple's strength, a development that appears to be affecting Samsung Electronics' share price today.
KB Securities also issued a report the same day and raised its target price for Samsung Electronics to 110,000 won from 90,000 won. Kim Dong-won, head of research at KB Securities, said, "With memory demand surging recently, the pace of improvement in Device Solutions (DS) semiconductor earnings will exceed expectations," adding, "Operating profit in the second half of this year will be 2.08 trillion won, up 33% from the same period a year earlier, marking the highest level in four years since the second half of 2021."