JPMorgan firmly stays bullish on Samsung: the global “cheapest storage stock” profit surge cycle will continue

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Golden Finance News reported that on July 8, J.P. Morgan released its latest individual stock research report. The report said that Samsung Electronics, a global semiconductor giant, disclosed strong preliminary performance for the second quarter of 2026, and that its core profit metrics easily surpassed expectations that had already been lowered by the market. Although Samsung set aside a one-off provision of more than 15 trillion Korean won for labor cost reserves in the first half of this year, the company demonstrated highly resilient earnings-cycle breakout strength, driven by the two tailwinds of a surge in memory chip prices and the depreciation of the Korean won. J.P. Morgan reiterated its “Overweight” rating in the report and raised its target price for December 2026 to 480,000 Korean won. J.P. Morgan noted that Samsung Electronics’ current share price implies a rolling price-to-earnings ratio for the next 12 months (FTM P/E) of only 5.2 times, making it the cheapest-priced high-quality storage asset worldwide. Investors’ pessimism had caused the share price to pull back earlier, which in turn provides an excellent opportunity for medium- to long-term investors to buy at lower prices.
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