Yuanta Securities raises Samsung Electronics target 530,000 → 630,000 won on prolonged memory upcycle (Sept 23, 2026) Yuanta Securities researcher Baek Gil-hyun raises Samsung target price from 530,000 won to 630,000 won, Buy maintained; Q3 estimates: operating profit 99.86T won (+720.8% YoY, +11.6% QoQ), revenue 212.19T won (+146.6% YoY); Device Solutions division operating profit ~100T won in Q3; DRAM ASP +18% and NAND ASP +16% QoQ on full-scale HBM4 sales. What happened: Yuanta says tight memory supply and demand will persist into 2027 and 2028, as HBM production keeps eroding general-purpose DRAM capacity while AI inference spreads demand for high-capacity memory. Baek also flagged possible increased shareholder returns as the upcycle lengthens, arguing free cash flow could structurally expand and "concerns about peak-out adjustments present a buying opportunity." Why it matters: this is a sell-side name extending the memory upcycle call a full two years further out — if DRAM and NAND pricing stays tight through 2028, the whole memory chain's earnings power gets repriced higher.

Yuanta Securities and the Taiwan Stock Exchange jointly hosted the "2026 Semiconductor Show Summit Forum" and shared three key industries to monitor considering strong AI demand: 1. ABF substrates, CCL, advanced processes, advanced packaging and testing 2. Passive components 3. Petrochemicals

The yuan climbed to its highest level against the dollar in more than four years, extending an advance underpinned by broad Chinese export strength and support from the central bank