Samsung Electronics, Settles at '70,000 Won' Despite KOSPI 3200 Line... After 11 Months

[Financial News] Samsung Electronics achieved '70,000 Won' after about 11 months. Despite the KOSPI showing a strong 3200 line on this day, it was strong with a rise of over 6%. The buying trend gathered as orders for semiconductor foundry production worth about 22 trillion won surged, strongly pushing up the stock price.
On the 28th, according to the Korea Exchange, Samsung Electronics closed at 70,400 won, up 6.83% from the previous trading day.
It has been about 11 months since Samsung Electronics' stock price settled at the 70,000 won line based on the closing price since September 4 last year. Samsung Electronics, which continued a tedious fluctuation at 50,000 won in the first quarter of this year, broke through 70,000 won on this day after continuing 60,000 won at the end of last month.
Samsung Electronics announced on this day that it signed a semiconductor foundry supply contract worth 22 trillion 764.8 billion won, which is interpreted as an improvement in investor sentiment.
Although Samsung Electronics did not disclose the contract partner due to business confidentiality, on this day, Elon Musk, CEO of Tesla, directly announced the contract fact on his social networking service (SNS).
Musk CEO said, "Samsung Electronics' new Texas plant will be dedicated to the production of Tesla's next-generation AI6 chips," and "The strategic importance of this plant cannot be overstated."
AI6 is an AI chip for autonomous driving developed by Tesla itself and is expected to be made using advanced processes at the Taylor plant in Texas, USA, next year.
It is analyzed that Samsung Electronics' stock price was boosted because it succeeded in winning large-scale orders in the foundry sector, which was pointed out as the cause of recent poor performance.
In the second-quarter provisional performance announced by Samsung Electronics on the 8th, operating profit was 4 trillion 600 billion won, a decrease of 55.94% compared to the same period last year.
In fact, on the 9th, the day after the performance announcement, Samsung Electronics' stock price fell to 60,400 won, down 2.10% compared to the 7th before the announcement, reaching the threshold of 50,000 won.
However, as foreigners and institutions aiming for bottom buying increased their investment proportion, it reached 65,900 won on the 25th, and then achieved 70,000 won on this day with the order announcement.
In the securities industry, it was predicted that Samsung Electronics would improve its performance with new foundry transactions before the order news on this day.
Park Yu-ak, a researcher at Kiwoom Securities, said on the 21st, "Samsung Electronics' foundry is making all-out efforts to secure new customers through improvements in the 4nm and 2nm processes," and "Through securing new trading lines such as Tesla, the deficit in operations is expected to be reduced, and this trend is expected to act as a momentum for stock price rebound because it proves that Samsung Electronics' semiconductor technology competitiveness is recovering."

yimsh0214@fnnews.com Sanghyuk Lim Reporter