Why Samsung, SK hynix shares are soaring

Shares of Samsung Electronics and SK hynix are soaring on the back of strong foreign buying and a global tech boom, market watchers said Monday. The performance reflects a deeper shift in investor sentiment. Information technology (IT) and semiconductor manufacturers’ shares are rallying, buoyed by strong earnings forecasts amid heavy investment into artificial intelligence (AI). The rally of Samsung Electronics in particular will remain strong, underpinned by a Morgan Stanley report recommending overweight, indicating a further price increase in the coming months. The global investment banking powerhouse said the Samsung shares are its top pick, revising its target price to 96,000 won ($69), up from the earlier 86,000 won. The firm said in the latest report that the IT sector will face a “a warm winter,” a notable shift in characterization from five months ago when it said an “iceberg looms.” Samsung Electronics shares tanked to below 50,000 won in November last year from the previous peak of 88,800 won in July that year. The steep two-month fall was triggered by Morgan StanleyWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times