KB Securities Maintains Buy Rating on Samsung Electronics with 600,000 Won Target Price on July 23

According to KB Securities on July 23, the brokerage maintained a buy rating on Samsung Electronics with a 600,000 Korean won target price, citing the chipmaker as the largest beneficiary of Google's expanded AI infrastructure investments. KB Securities' research head Kim Dong-won noted that Samsung supplies approximately 50% of Google's server memory needs and 80% of its HBM (high-bandwidth memory) demand in the third quarter, holding the top market share position.

Kim projected that Samsung's third-quarter revenue and operating profit would surge 143% and 805% year-over-year, respectively, with memory supply shortages expected to persist through 2028. The research head forecasted that HBM's share of D-RAM wafer production capacity will expand from 15% in 2026 to 34% in 2027.