The recent stock market saw a sharp decline as the KOSPI fell more than 5 % against the previous trading day, reflecting a combination of global supply chain uncertainty and rising memory component prices. Samsung Electronics’ share price dropped about 15 %, while SK Hynix fell by over 21 %, both companies receiving strong reactions in the market.
Samsung’s and SK Hynix’s shares fell to approximately 7.4 % and 10.1 % respectively, a steep decline from the previous day. The P/E ratio is around 3×, and the PBR has fallen to about 1.4×. These figures resemble the low valuations seen in October 2025 and April last year, indicating that share prices are diverging from actual performance.
KB Securities views this adjustment as the “second bottom,” noting that foreign net sales have reached 200 trillion won, worsening supply shortages and leading to price declines. They also emphasize that rising memory prices and supply shortfalls of high-end memories such as HBM create a strong upward pressure on profits, expecting a “W-shaped rebound.”
KB Securities projects next year’s earnings for the two companies at about 626 trillion won (Samsung 367 trillion, SK Hynix 259 trillion) and 944 trillion won (Samsung 555 trillion, SK Hynix 389 trillion). They analyze that rising memory prices and supply shortages of high-end memories such as HBM can lift consensus on profitability. This forecast gives investors a signal that even after the price decline, there is a strong possibility of recovery.