Samsung remains Korean investors' favorite despite declining stock prices

NH Investment & Securities analyst Do Hyun-woo revised Samsung's stock price target from 75,000 won ($53) to 70,000 won. Due to the “aggravating memory chip down cycle,” Do Hyun-woo estimates DRAM chip prices to drop 9% by the end of the year and by 12% throughout 2023. In terms of operating profit in Q3, Do estimates that Samsung will top 11.8 trillion won ($8.47 billion), down 25.5% from Friday, when analysts assessed Samsung's operating profit for Q3 would reach 13.3 trillion won ($9.5 billion).

Samsung's share price fell nearly 30% from January to Monday. But even though Samsung's stock price is trending down, the company remains the preferred choice among Korean investors, most of which are hoping for the tech giant to rebound. (via The Investor).

Samsung isn't the only South Korean semiconductor company to have suffered from slowing chip orders, and analysts have revised SK Hynix's share price target in a similar fashion. Regardless, Korean investors continue to have faith in Samsung. As a result, from January through Friday, individual investors have reportedly bought a combined 50.5 trillion won ($36 billion) worth of Samsung stocks and divested 33 trillion won ($23 billion) worth of shares.