Core Viewpoint - The semiconductor performance of Samsung Electronics is expected to exceed expectations due to a surge in memory demand, leading KB Securities to raise its target stock price to 110,000 KRW and maintain a "buy" rating [2] Group 1: Samsung Electronics' Performance - KB Securities has increased its net profit forecasts for Samsung Electronics for this year and next by 16.1% and 24.4%, respectively, to 34 trillion KRW and 52 trillion KRW [2] - The semiconductor division's operating profit is projected to reach 20.8 trillion KRW in the second half of this year, a 33% increase compared to the same period last year [2] - Samsung is expected to gain a competitive edge in the high bandwidth memory (HBM) market with its upcoming HBM4, which utilizes 1c DRAM and 4nm logic chips, achieving a performance of 11 Gbps [2] Group 2: Market Dynamics and Price Increases - Samsung Electronics plans to raise prices for some DRAM products by up to 30% and NAND products by up to 10% due to supply shortages in the memory market [4] - SK Hynix is also expected to follow suit with price increases as market prices rise [4] - The demand for memory from AI data centers is driving price increases across the memory industry, with companies like Sandisk and Micron also announcing price hikes [5] Group 3: Future Market Projections - Market Insights predicts that the AI server market growth will significantly boost the DRAM market, with DRAM capacity in AI servers expected to increase from an average of 1TB to over 2.5TB from 2024 to 2030 [6] - The sales of DRAM in data centers are projected to grow from $48 billion in 2024 to $154 billion by 2030, accounting for 70% of total DRAM sales [6]
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半导体行业观察·2025-09-23 01:08