Samsung and SK Hynix Rally Drives Kospi Back Above 8000

Samsung Electronics and SK Hynix jumped 8.2% and 11% respectively, recouping most of the losses suffered during Thursday’s selloff. This volatility was initially sparked by reports that Meta Platforms might offload excess AI computing capacity, an event that led investors to question the sustainability of current data-center investments.

Despite the market jitters, analysts maintain a bullish outlook on the underlying fundamentals for chip makers. Citigroup analyst Peter Lee characterized Samsung’s recent pullback as a mere technical correction, noting that the stock has gained over 150% this year. Lee projects Samsung’s second-quarter operating profit to hit 84 trillion won—a nearly 18-fold increase from a year prior—driven by robust demand for server DRAM chips. He has subsequently raised his 2026 operating profit forecast for the company to 401 trillion won.

Similarly, KB Securities analysts led by Jeff Kim remain optimistic about SK Hynix, citing a memory-chip supply shortage expected to last through 2028. The firm anticipates global AI infrastructure investment to reach $1.5 trillion by 2028, leading them to increase their 2026 operating-profit forecast for SK Hynix to 290 trillion won. The brokerage maintains that the growth trajectory for both earnings and share price remains firmly intact.