What is the cost of missing out on the AI craze? Samsung Electronics plummeted 32%, evaporating $122 billion in market value
sunny77
发表于 3 天前
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Just a few months ago, Samsung Electronics seemed to be preparing to benefit from the global artificial intelligence (AI) boom: the company's profits soared and its stock price reached a historic high.
But the outside world is increasingly concerned that the company's competitiveness in the AI chip field is not as strong as imagined, such as losing to its competitor SK Hynix in the high bandwidth memory (HBM) field and being unable to surpass TSMC in the outsourced chip manufacturing field. Samsung Electronics' stock price has fallen 32% from its peak of the year on July 9th. During this period, the company lost $122 billion in market value.
Previously, the world's largest manufacturer of storage chips, smartphones, and televisions promised a comprehensive reform to regain competitiveness. But international fund management companies including Pictet Asset Management Ltd. and Janus Henderson Investors SP Ltd. do not seem to believe that the company will improve soon.
Data shows that since the end of July, overseas investors have sold approximately $10.7 billion worth of Samsung Electronics stocks.
Over the past few months, our position in Samsung has decreased by more than half - the largest position in our July strategy. Although the valuation of the stock has dropped to an attractive level, we currently have no intention of buying it, "said Sat Duhra, portfolio manager at Junli Henderson
Missed the AI craze
At present, smartphones and other consumer electronics products still account for the largest share of Samsung's sales. Moreover, due to the recent crisis in its chip business, Samsung Electronics issued a rare apology to investors earlier this month for its disappointing performance.
Samsung Electronics' weak performance this year highlights that artificial intelligence is a key factor determining the winners and losers in today's chip industry. Currently in South Korea, SK Hynix undoubtedly holds a dominant position in the HBM field.
Let's take a look at other companies that have made a fortune through AI chips: while foreign investors are leading the way in withdrawing from Samsung, Nvidia has become one of the world's largest companies. TSMC is the main manufacturer of chips designed by Nvidia and Apple, and its market value has increased by over $330 billion this year.
Why did Samsung ride a roller coaster?
Previously, Samsung Electronics' stock price hit a historic high after announcing a 15 fold increase in operating profit for the June quarter. In August of this year, investors were optimistic that Samsung may win more business by providing Nvidia with high bandwidth memory that can be used in conjunction with artificial intelligence processors.
However, in early October, shortly after SK Hynix announced that it had started mass production of the new HBM chip, Samsung Electronics admitted to delaying the production of the latest generation HBM chip, slowing down its pace of catching up with SK Hynix. At the same time, American competitor Micron Technology has also intensified its efforts in the HBM field and reported strong demand for its products.
Earlier this month, the head of Samsung's chip division issued a rare apology to investors for the lower than expected initial results announced and stated that the company is working hard to address the delay in delivering HBM chips to Nvidia.
Young Jae Lee, Senior Investment Manager at Baida Asset Management's Global Emerging Markets High Dividend Team in London, stated that Samsung is "losing its technological leadership in the semiconductor industry".
Essentially, it is difficult to regain technological leadership in the short term. We have been reducing our stake in Samsung, "he added.
Neil Campling, founding partner of Chameleon Global Capital, previously commented that "Samsung's pain is Hynix's gain," and SK Hynix is leading the lucrative HBM field and has already acquired a share of Nvidia in 2025.
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声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
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