Samsung Electronics' market cap hits $268 billion for the first time ever

Despite ongoing challenges that have the leadership quite busy, investors continue to reiterate their trust in Samsung's business. That's evident by the performance of Samsung's stock on the Korea Composite Stock Price Index. The share price has been hitting new all-time highs this year and it went up to 2.134 million won yesterday, that's $1,906, which pushed the market capitalization of Samsung Electronics to $268 billion for the first time every.

Just to get a sense of the rally that has been witnessed in the company's stock, consider the fact that the share price of Samsung Electronics has made a record high for the last five trading days straight. There was some retracement on March 20 but it touched a new high again yesterday, pushing the market cap to $268 billion.

What's driving the rally? The strength of Samsung's semiconductor business, impending release of its Galaxy S8 flagship smartphone and expectations of major changes in the company's management structure are just some of the reasons why the company's stock has been performing so well even though its heir apparent languishes behind bars due to Samsung's alleged role in South Korea's influence-peddling scandal.

Adnan Farooqui - Executive Editor

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First Samsung device: SGH-E900

Adnan Farooqui is a long-term writer at SamMobile. Based in Pakistan, his interests include technology, finance, Swiss watches and Formula 1. His tendency to write long posts betrays his inclination to being a man of few words.

Via Business Samsung Electronics