Samsung Electronics and SK hynix have already risen a lot. Yet judging by the numbers in brokerage reports, the market still leans more toward “there's more to come” than “it's over.”
As of June 3, Samsung Electronics was trading at KRW 360,500 and SK hynix at KRW 2,360,000. A simple average of the publicly available price targets from Korean and foreign brokerages comes to about KRW 536,000 for Samsung Electronics and about KRW 3,334,000 for SK hynix. Against current prices, that implies further upside of about 49% for Samsung Electronics and about 41% for SK hynix.
Of course, you shouldn't take these numbers at face value. A price target is not a prophecy but the output of assumptions. The numbers can change at any time depending on how much memory prices rise, how short HBM supply gets, and how much long-term supply agreements actually stabilize earnings.
Samsung Electronics price targets
| Category | Brokerage | Price target | Price on June 3 | Upside | Notes |
|---|---|---|---|---|---|
| Korean | SK Securities | KRW 610,000 | KRW 360,500 | +69.2% | Among the highest in Korea |
| Korean | Samsung Securities | KRW 500,000 | KRW 360,500 | +38.7% | Samsung Electronics as top pick |
| Korean | Daishin Securities | KRW 560,000 | KRW 360,500 | +55.3% | Seen as undervalued among AI stocks |
| Korean | Mirae Asset Securities | KRW 550,000 | KRW 360,500 | +52.6% | Reflects higher global memory valuations |
| Korean | Korea Investment & Securities | KRW 570,000 | KRW 360,500 | +58.1% | Focus on rising commodity DRAM and NAND prices |
| Korean | KB Securities | KRW 530,000 | KRW 360,500 | +47.0% | Expects a deepening memory shortage |
| Korean | NH Investment & Securities | KRW 490,000 | KRW 360,500 | +35.9% | Reflects more long-term contracts and stable earnings |
| Korean | Shinhan Securities | KRW 550,000 | KRW 360,500 | +52.6% | Rising memory prices, easing labor risk |
| Korean | Eugene Investment & Securities | KRW 500,000 | KRW 360,500 | +38.7% | Expects the memory supercycle to continue |
| Korean | DAOL Investment & Securities | KRW 450,000 | KRW 360,500 | +24.8% | Relatively conservative |
| Korean | Hana Securities | KRW 430,000 | KRW 360,500 | +19.3% | Conservative |
| Korean | iM Securities | KRW 400,000 | KRW 360,500 | +11.0% | Most conservative |
| Foreign | Nomura | KRW 590,000 | KRW 360,500 | +63.7% | KOSPI 10,000–11,000 scenario |
| Foreign | Citi | KRW 460,000 | KRW 360,500 | +27.6% | Reflects rising global memory prices |
| Foreign | Susquehanna | KRW 850,000 | KRW 360,500 | +135.8% | Very aggressive, an outlier |
Samsung Electronics averages
| Basis | Average price target | Upside from current price |
|---|---|---|
| Simple average of all | About KRW 536,000 | +48.7% |
| Korean brokerage average | About KRW 512,000 | +41.9% |
| Foreign brokerage average | About KRW 633,000 | +75.7% |
| Average excluding Susquehanna | About KRW 514,000 | +42.5% |
| Median | KRW 530,000 | +47.0% |
SK hynix price targets
| Category | Brokerage | Price target | Price on June 3 | Upside | Notes |
|---|---|---|---|---|---|
| Korean | SK Securities | KRW 4,000,000 | KRW 2,360,000 | +69.5% | Among the highest in Korea |
| Korean | Samsung Securities | KRW 3,500,000 | KRW 2,360,000 | +48.3% | Reflects earnings durability through 2028 |
| Korean | Daishin Securities | KRW 3,400,000 | KRW 2,360,000 | +44.1% | Reflects expected shareholder returns |
| Korean | Mirae Asset Securities | KRW 3,800,000 | KRW 2,360,000 | +61.0% | Higher P/B multiple |
| Korean | Korea Investment & Securities | KRW 3,800,000 | KRW 2,360,000 | +61.0% | Reflects structural changes from HBM and LTAs |
| Korean | KB Securities | KRW 3,800,000 | KRW 2,360,000 | +61.0% | Described as “the 5 km mark of a marathon” |
| Korean | NH Investment & Securities | KRW 3,100,000 | KRW 2,360,000 | +31.4% | Reflects expanding long-term contracts |
| Korean | Shinhan Securities | KRW 3,800,000 | KRW 2,360,000 | +61.0% | Expects prolonged excess demand |
| Korean | Eugene Investment & Securities | KRW 3,200,000 | KRW 2,360,000 | +35.6% | Relatively conservative bull case |
| Korean | DAOL Investment & Securities | KRW 2,500,000 | KRW 2,360,000 | +5.9% | Conservative |
| Korean | Hana Securities | KRW 2,750,000 | KRW 2,360,000 | +16.5% | Conservative |
| Korean | iM Securities | KRW 2,760,000 | KRW 2,360,000 | +16.9% | Conservative |
| Foreign | Nomura | KRW 4,000,000 | KRW 2,360,000 | +69.5% | Among the highest overseas |
| Foreign | Citi | KRW 3,100,000 | KRW 2,360,000 | +31.4% | Reflects rising HBM prices |
| Foreign | Susquehanna | KRW 2,500,000 | KRW 2,360,000 | +5.9% | Sees limited upside |
SK hynix averages
| Basis | Average price target | Upside from current price |
|---|---|---|
| Simple average of all | About KRW 3,334,000 | +41.3% |
| Korean brokerage average | About KRW 3,368,000 | +42.7% |
| Foreign brokerage average | About KRW 3,200,000 | +35.6% |
| Average excluding Susquehanna | About KRW 3,394,000 | +43.8% |
| Median | KRW 3,400,000 | +44.1% |
- Samsung Electronics has become the “laggard leader”
Price targets for Samsung Electronics vary widely by brokerage. The most conservative, iM Securities, set KRW 400,000, and Hana Securities KRW 430,000. At the other end, SK Securities set KRW 610,000 and Nomura KRW 590,000. The standout forecast came from U.S.-based Susquehanna, which put its Samsung Electronics target at KRW 850,000.
Including Susquehanna, the average target for Samsung Electronics is about KRW 536,000. But KRW 850,000 is far more aggressive than other brokerages' figures; excluding it, the average drops to about KRW 514,000. So it is safer to see the market's realistic expectation as roughly the low-to-mid KRW 500,000s.
Samsung Electronics is back in the spotlight not just because of HBM. Rising prices for commodity DRAM and NAND, its production-capacity advantage, the prospect of shareholder returns and hopes that it will catch up in HBM are all coming together. Put simply, SK hynix ran first, and now the market sees room for Samsung Electronics to catch up late.
- SK hynix is already expensive, but bullish views still dominate
SK hynix is trading at KRW 2.36 million, an almost absurd level compared with a year ago. Even so, many major Korean brokerages put their targets between KRW 3.4 million and KRW 4 million.
SK Securities and Nomura set KRW 4 million, while Mirae Asset Securities, Korea Investment & Securities, KB Securities and Shinhan Securities all set KRW 3.8 million. Samsung Securities is at KRW 3.5 million and Daishin Securities at KRW 3.4 million. DAOL Investment & Securities and Susquehanna, by contrast, took a notably conservative view at KRW 2.5 million.
The core argument for SK hynix is HBM. AI servers need large amounts of high-performance memory, and HBM consumes far more production capacity than ordinary DRAM. In other words, the more HBM is made, the tighter the supply of commodity DRAM becomes. The brokerages' central assumption is that this structure can keep pushing memory prices up for a long time.
- The key to this outlook is “duration” more than “price”
What matters in this chip rally is not the fact that memory prices are rising. The real question is how long the boom can last.
Past memory cycles were mostly short. When prices rose, companies ramped up capital spending, and once supply grew over time, prices turned down. This time is a little different. Demand from AI data centers is enormous, and because of the shift to HBM, supply of commodity memory from existing fabs is hard to increase quickly.
On top of that come long-term supply agreements. As the name suggests, these are contracts in which customers and chipmakers lock in volumes and prices for an extended period. As such contracts increase, earnings become less volatile for chipmakers. That is also why brokerages are raising their targets for Samsung Electronics and SK hynix: they have started to see not a short-term boom but an earnings stream that could last into 2027 or 2028.
- So the conclusion is not “buy no matter what” but “the baseline has moved up”
The conclusion from this survey of price targets is simple. Brokerages' baseline for Samsung Electronics has risen to roughly the KRW 500,000s, and for SK hynix to roughly the mid-to-high KRW 3 million range.
These numbers, however, are not a guarantee to buy. Because the stocks have risen so fast in so little time, they could swing sharply at any moment on profit-taking, shifts in foreign flows, news of slowing AI investment or debate over a peak in memory prices. SK hynix in particular already reflects a lot of expectations, so even small setbacks could amplify its volatility.
Still, the reason the market keeps watching Samsung Electronics and SK hynix is clear. The key question for the Korean stock market now is less “will chips rise further?” and more “how far has earnings power climbed?” That is exactly why price targets keep going up.
BITPRESS Insight
Samsung Electronics and SK hynix have already risen a lot. But what brokerages focus on is not past share prices but the durability of future earnings. Samsung Electronics is being rerated as a large-cap that has lagged, while SK hynix keeps its premium as the HBM leader. The higher the targets go, however, the more sensitively the shares may react if earnings fall even slightly short of expectations. This is a stretch where you need to look not just at “up or down” but at “how much of the expectations are already priced in.”
Sources
https://alphasquare.co.kr/home/stock-summary?code=005930
https://alphasquare.co.kr/home/stock-summary?code=000660
https://www.yna.co.kr/view/AKR20260601107300008
https://www.samsungpop.com/common.do?cmd=down&contentType=applicationpdf&fileName=20202026060216210610K_02_04.pdf&inlineYn=Y&saveKey=research.pdf
https://file.alphasquare.co.kr/media/pdfs/market-report/20260602.pdf
https://v.daum.net/v/pmnlXfUZZb
https://www.mindlenews.com/news/articleView.html?idxno=20417
https://www.yna.co.kr/view/AKR20260529027000008
https://marketin.edaily.co.kr/News/ReadE?newsId=02843766645451216
https://en.sedaily.com/finance/2026/05/12/citi-sees-samsung-at-460000-won-sk-hynix-at-31-million-won
https://www.livebiz.today/news/articleView.html?idxno=202374
