Brokerages are trimming their price targets for Samsung Electronics and SK hynix as concerns build that the memory-chip cycle has moved past its peak and Chinese competitors are gaining ground. Kiwoom Securities cut its target for Samsung Electronics to 350,000 won from 390,000 won and lowered SK hynix to 2.1 million won from 2.2 million won, while keeping buy ratings on both stocks. The brokerage said elevated memory prices are making smartphone makers more cautious on purchases, while demand for laptop and PC memory is shaping up weaker than expected earlier this year. It also warned that supply growth tied to long-term agreements could weigh on the commodity memory market in 2027. Analysts also pointed to progress by CXMT and YMTC, with the former expanding into PC and server memory using more domestically produced equipment and the latter increasing its presence in mobile and client SSD (solid-state drive) markets. Other brokerages have also lowered targets since late July after peak-cycle concerns, SK hynix's second-quarter earnings and China's push to localize semiconductor lithography equipment. Even so, analysts still see medium- to long-term upside, particularly from HBM (high bandwidth memory), which Kiwoom's Park Yoo-ak said could support a share-price rebound as Samsung Electronics' HBM shipments and pricing rise in 2027.