Kim Dong-won, a KB Securities researcher, said on the 16th that Samsung Electronics is the biggest beneficiary as the ecosystem expands through artificial intelligence (AI) cooperation among global corporations. The reason is that Samsung Electronics has a diverse customer base and the world's largest memory semiconductor production capacity.
Kim said, "In particular, Samsung Electronics, which has secured strategic partnerships with OpenAI, Broadcom, AMD, Oracle, and SoftBank, is expected to benefit from diversifying the high bandwidth memory (HBM) supply chain." He maintained his investment opinion on Samsung Electronics as Buy and his target price at 130,000 won.
For Samsung Electronics' 2026 annual operating profit forecast, Kim suggested 64.2 trillion won. The point is that it will achieve the biggest result in eight years since 58.8 trillion won in 2018.
Kim predicted that an increase in the average selling price (ASP) of DRAM will drive Samsung Electronics' performance. Kim said, "An increase in DRAM supply will be possible from 2028, when the operation of Pyeongtaek P5 and the Yongin semiconductor cluster goes into full swing," adding, "From 2026 to 2027, the DRAM market is expected to face a severe supply shortage."
Kim explained that despite the recent rise in its share price, Samsung Electronics remains the most undervalued among major memory semiconductor corporations with a price-to-book ratio (PBR, market capitalization ÷ net worth) of 1.4 times. Kim said, "Going forward, 100,000 won will serve as a strong support level for the share price."