Tech giant's stock price fails to recover despite record-high sales

By Lee Min-hyung

Samsung Electronics shares are expected to hit the bottom in the 2nd quarter and bounce back sometime in the third quarter, after memory chip prices bottom out in the near future, analysts said.

Investors have been going on a selling spree of Samsung shares so far this year, due to a skeptical semiconductor market outlook over falling DRAM prices.

The stock price of the electronics company reached a historic high of around 89,000 won per share in early January 2021. This was a twofold increase, since Samsung shares nosedived in March 2020 amid the pandemic-induced market crash.

But the firm's share price has failed to recover to previous levels and slipped below 70,000 won last month. On Thursday, Samsung shares closed at 68,000 won on the benchmark KOSPI, down by 0.73 percent or 500 won from the previous day.