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| 삼성전자 서초사옥 모습 (사진=연합뉴스) |
[Alpha Biz=(Chicago) Reporter Paul Lee] KB Securities expects Samsung Electronics' semiconductor inventory to peak in the second quarter of this year and said, "It is the right time to expand its weight."
"It is predicted that inventory of memory semiconductors will be on the decline after the second quarter and that U.S. semiconductor maker Micron will stop cutting prices of memory semiconductors from June," said Kim Dong-won, a researcher at KB Securities. "The drop in DRAM and NAND prices in the second quarter will be greatly reduced to form the bottom."
"Samsung Electronics' DRAM and NAND inventories are expected to peak in the second quarter," Researcher Kim said. "Considering that Samsung Electronics' stock prices began to rise in the quarter when memory semiconductor inventories peaked, the peak period of inventory is the right time to expand the portion."
"We expect earnings improvement to expand in the second half of the year," he added. "Operating profit in the second quarter will also increase by 618.6 billion won, which will greatly reduce the possibility of operating loss."
"We estimate that the 4-nanometer (nm) yield (the ratio of passing goods) in Samsung Electronics' foundry sector is 75%, which is a significant improvement compared to the previous year," he said. "The mass production of the second-generation GAA process will be carried out smoothly and the technology gap with Taiwan's TSMC will be greatly resolved."
Gate All Around (GAA) is a technology that reduces chip area and increases power efficiency compared to existing FinFET technology.
Researcher Kim maintained Samsung Electronics' target stock price of 85,000 won and investment opinion 'buy'.
AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)
