Samsung Electronics and SK hynix, South Korea’s leading stock-market performers this year, have traded in narrow ranges for nearly two months as investors await third-quarter earnings for evidence of renewed growth. Brokerages expect the shares to regain momentum from October, citing firm memory prices, expanding artificial-intelligence investment and potential shareholder returns. Samsung closed at 253,000 won on the 16th, up 1.81%, while SK hynix ended at 1.755 million won, up 3.85%. Samsung is pursuing a buyback of 53,285,968 shares for about 15 trillion won through Nov. 21, while SK hynix plans to spend about 40 trillion won on 24.07 million shares through Nov. 19 and cancel them. Analysts say sustained gains will depend on evidence that AI spending remains durable, demand for HBM4 and other high-value memory products continues to grow, and the semiconductor cycle improves. Citi projects a memory shortage could persist through 2031, while major brokerages have set targets as high as 670,000 won for Samsung and 4.7 million won for SK hynix. Risks include high interest rates, a stronger won, concerns about excessive AI spending, slower AI development and geopolitical tensions.