SamMobile has affiliate and sponsored partnerships. If you buy something through one of these links, we may earn a commission.

Notifications
    News For You

    Investors buying spree raises Samsung’s share price to pre-COVID levels

    Business
    By 

    Last updated: November 13th, 2020 at 17:27 UTC+01:00

    Foreign investors are confident that Samsung will recover next year from the economic impact left behind by COVID-19. Anticipating growth across various segments – especially in the semiconductor market – foreign investors have been on a Samsung share buying spree for the past week. This has driven the company's shares to a historic high and has increased share prices to a level similar to where they were before the COVID-19 pandemic.

    Global investment firms JP Morgan has acquired 3.41 million Samsung shares in the last week, whereas Merril Lynch has secured 2.22 million shares within the same time window, reveals The Korea Economic Daily. The publication claims that other individual investors have sold off shares for a net worth of 2.9 trillion won ($2.6 million).

    Today, November 13, foreign investors have secured a net 578.5 billion won ($518 million) worth of shares, and Samsung's share price stood at 63,200 won ($57), the highest it's been since the COVID-19 outbreak began.

    Investors are betting big on Samsung's 2021 recovery

    The share price increase was driven by foreign investors who anticipate businesses to recover next year. In particular, investors expect Samsung's semiconductor business to perform very well in 2021 thanks to an increase in demand for DRAM chips. Samsung was the world's largest DRAM supplier for the smartphone market in the first half of 2020. It was followed by SK Hynix.

    Aside from a healthy semiconductor business, investors are looking at other external factors that will likely continue to drive Samsung's share price up, such as exchange rates and interest rates, and the capital inflow into emerging markets. Joe Biden's administration could also lead to a decrease in USD value compared to emerging market currencies, resulting in foreign investors continuing to buy off Samsung shares.

    BusinessGeneral DRAMSamsung Semiconductor
    Galaxy AI summarized

    Scroll for more related content
    News For You

    You might also like

    Samsung could announce plans for 1nm chips next month

    Samsung could announce plans for 1nm chips next month

    Samsung Foundry could announce its plans for 1nm chips next month during its SAFE Forum event in the USA. According to Taiwanese media, the South Korean firm is also expected to announce mass production plans for 2nm chips during the event. Samsung could start production of 1nm chips as soon as 2026 Samsung Foundry is […]

    • By Asif Iqbal Shaik
    • 2 weeks ago
    New Samsung Semiconductor chief calls for unity among employees

    New Samsung Semiconductor chief calls for unity among employees

    A couple of weeks ago, Samsung appointed a new head of its semiconductor chip business. Jun Young-hyun, who is now heading the South Korean firm's most important business arm, has called for unity among employees to stay on top of the competition. Jun Young-hyun, Samsung Device Solutions' new chief, calls for unity between employees and […]

    • By Asif Iqbal Shaik
    • 2 weeks ago
    Samsung replaces its semiconductor chip boss amid hightened competition in AI era

    Samsung replaces its semiconductor chip boss amid hightened competition in AI era

    Amid heightened competition in the semiconductor chip business, Samsung has appointed Jun Young-hyun as the new head of the Samsung Device Solutions (DS) business arm. He replaces Kyung Kye-hyun, who became the head of the company's chip division two years ago. This replacement is highly unusual as Samsung usually reshuffles the heads of its business […]

    • By Asif Iqbal Shaik
    • 4 weeks ago
    Apple Vision Pro 2 could use more Samsung tech and be cheaper

    Apple Vision Pro 2 could use more Samsung tech and be cheaper

    Apple's first Vision Pro mixed reality headset may have failed to change the world due to its high price and relatively undercooked feature set. Even so, the Vision Pro seemingly marks the beginning of a new device category for Apple. In other words, it might not be a one-off device but the start of a […]

    • By Mihai Matei
    • 1 month ago
    Samsung profit jumps 933% to $4.8 billion in Q1 2024, beating estimates

    Samsung profit jumps 933% to $4.8 billion in Q1 2024, beating estimates

    Samsung has revealed its financial results for the first quarter of this year, a few weeks after revealing revenue estimates. The company revealed that its revenue rose 13% compared to Q1 2023, while its profit skyrocketed nearly 10x (933%) compared to the year earlier. Samsung's profit jumps nearly 10x in Q1 2024, thanks to strong […]

    • By Asif Iqbal Shaik
    • 2 months ago
    Samsung is world’s first to start mass production of 1Tb 9th Gen. V-NAND chips

    Samsung is world’s first to start mass production of 1Tb 9th Gen. V-NAND chips

    Samsung, the world's biggest memory chip maker, has announced it is the first brand to start mass-producing 1Tb TLC 9th Gen V-NAND flash chips. TLC refers to Triple Level Cell, and the new chips can store 3-bit data in one cell. Samsung becomes world's first brand to start mass production of 1Tb 9th Generation V-NAND […]

    • By Asif Iqbal Shaik
    • 2 months ago