Samsung, SK Hynix Shares Plunge 26%-37% on NAND Price Concerns; Analysts See Buying Opportunity

According to Mirae Asset Securities on July 23, Samsung Electronics and SK Hynix shares plummeted recently amid concerns over NAND flash memory price weakness expected in the second half of 2027. Trendforce forecasts TLC and QLC wafer contract prices will decline 9.4% in Q3 2027 and 15.4% in Q4, driven by increased supply from capacity expansions by Samsung, SK Hynix, and Kioxia.

However, analysts at Mirae Asset Securities argue NAND concerns are largely priced in, citing persistent strength in D-RAM and continued AI infrastructure investment as offsetting factors. D-RAM prices have risen for over 40 trading days and are approaching record highs, while HBM4 prices are forecast to rise 2.5x year-over-year by 2027. Google and Amazon's order backlogs have surged 92.6% and 49.2% respectively, signaling sustained AI capex momentum. With valuations now attractive—Samsung's 12-month forward PBR at 1.8x and SK Hynix at 4.4x—analysts recommend increasing memory semiconductor holdings.