Goldman Sachs Raises Samsung Electronics Target Price to KRW 490,000

Goldman Sachs said Samsung’s second-quarter operating profit met expectations and expects memory supply-demand conditions to tighten further through 2027, with HBM4 revenue contribution rising meaningfully in the second half of 2026.

22d ago

事实核查

Odaily快讯和《Chosun Biz》（韩国主要商业媒体）均确认，高盛将三星电子目标价上调至49万韩元，其第二季度营业利润符合预期，存储器供应收紧将持续至2027-2028年，且HBM4收入占比将在2026年下半年升至超过HBM销售额的60%——与该说法的各项要素一致。来自《SeDaily》和币安的额外网络搜索佐证也进一步支持这一点。

摘要

In a research note, Goldman Sachs said Samsung Electronics’ second-quarter operating profit met expectations, so it raised its 2026-2028 earnings-per-share forecasts by about 2% and lifted its 12-month target price to KRW 490,000 from KRW 480,000 ($355). The bank expects memory demand growth to significantly outpace supply, with the gap widening further in 2027 and supply still remaining tight in 2028. Goldman Sachs also said Samsung has signed long-term agreements with major data-center customers, helping improve earnings visibility and provide downside protection, while the company is aiming to become a leader in the AI memory market and expects HBM4 to account for more than 60% of HBM revenue in the second half of 2026.

术语与概念

HBM4: 用于AI和先进计算应用的下一代高带宽内存。
AI memory: 为支持人工智能工作负载而设计的内存产品，包括数据中心使用的高带宽内存。
Price-to-book ratio: 一种将公司市值与其账面价值进行比较的估值指标。