"Should I buy even now?"… 'Samsung at 240,000 won · Hynix at 1,120,000 won' stunning forecast

Global investment bank Macquarie advised, "Do not sell Samsung Electronics and SK hynix too early," forecasting that the memory supercycle will continue through 2027. It set a target price of 240,000 won for Samsung Electronics and 1,120,000 won for SK hynix.

On the 6th (local time), Macquarie diagnosed that the surge in memory semiconductor prices is fundamentally changing the earnings structures of Samsung Electronics and SK hynix. The analysis is that both companies have rapidly improving profitability centered on DRAM and high-bandwidth memory (HBM), entering a 'long-term boom phase' unlike before.

Accordingly, Macquarie raised Samsung Electronics' target price by 37% to 240,000 won. Considering the closing price on the 7th (141,000 won), the upside potential is about 70.2%. In particular, Macquarie newly added Samsung Electronics to its core recommended list as a 'Marquee Buy.'

Macquarie raised SK hynix's target price to 1,120,000 won, up 40% from before. SK hynix's closing price on the 7th was 742,000 won. Macquarie expects quarterly earnings to improve significantly as DRAM and NAND prices rise.

Macquarie analyst Daniel Kim diagnosed, "The current memory shortage has deepened to the extent that it is pressuring the entire information technology (IT) supply chain, and no clear solution is visible through 2028." He also raised Samsung Electronics' operating profit forecasts for 2026 and 2027 by 50% from previous estimates.

For SK hynix, he projected net profit to surge from 45 trillion won in 2025 to 101 trillion won in 2026 and to 142 trillion won in 2027. That is a calculation that profit size would grow more than threefold in just two years.

Analyst Daniel Kim advised investors, "The memory price uptrend will continue through the first half of 2027," adding, "Don't sell too early."

He emphasized, "As the memory shortage (supply shortage) intensifies, there is no sign of a price reversal (shift to decline) in any product category," and "Samsung Electronics and SK hynix will be the biggest beneficiaries of this unprecedented cycle."

Younggi Jin, Hankyung.com reporter young71@hankyung.com