Goldman Raises Samsung, SK Hynix Operating Profit Forecasts Up to 24% as Memory Undersupply Extends Into 2028

aiai-infrastructureai-compute-chipsbusinessstocks 3 posts · 2 accounts

Goldman Sachs raised its operating profit forecasts for Samsung and SK Hynix, with the biggest revisions pushed into 2027 and 2028. The bank lifted Samsung's 2026 estimate to KRW374 trillion from KRW355 trillion, its 2027 forecast to KRW530 trillion from KRW438 trillion and its 2028 view to KRW610 trillion from KRW495 trillion. For SK Hynix, Goldman raised its 2026 estimate to KRW271 trillion from KRW261 trillion, its 2027 forecast to KRW401 trillion from KRW330 trillion and its 2028 view to KRW454 trillion from KRW366 trillion.

The changes reflect a more bullish memory-market outlook. Goldman now expects DRAM, NAND and HBM supply and demand to be tighter in 2027 than in 2026, with undersupply persisting into 2028 across all three markets, driven by stronger demand visibility from AI servers and agentic AI, slower capacity additions, rising HBM wafer allocation, longer-term agreements that reduce cycle volatility, and further room for HBM pricing to catch up with conventional DRAM.

From the sources (3 posts)

@jukan05

Goldman Sachs raises its Samsung operating profit forecasts: 2026: KRW 355tn ($235.5bn) → KRW 374tn ($248.1bn) 2027: KRW 438tn ($290.6bn) → KRW 530tn ($351.6bn) 2028: KRW 495tn ($328.4bn) → KRW 610tn ($404.7bn)

@jukan05

Goldman Sachs raises its SK Hynix operating profit forecasts: 2026: KRW 261tn ($173.1bn) → KRW 271tn ($179.8bn) 2027: KRW 330tn ($218.9bn) → KRW 401tn ($266.0bn) 2028: KRW 366tn ($242.8bn) → KRW 454tn ($301.2bn)

@zephyr_z9

What did I tell you, anon??

Market impact

48 medium

MU SMH NVDA SOXX

Why it matters: Goldman's raised profit forecasts codify a multi-year memory undersupply (DRAM/NAND/HBM tight into 2028), signaling durable pricing power for memory makers, read-through to US pure-play Micron and the HBM/AI-server demand chain, though it is a sell-side revision not a supply shock.

At publish time: Headline names a structural memory undersupply extending into 2028 plus specific multi-year profit-forecast hikes up to 24%, flagging a memory-sector pricing-power thesis at publish time.

model confidence: medium

What happened next

1–2 weeks later

mixed moved down

Undersupply thesis reinforced (HBM sold out, HBM4 certs), but CXMT competition and a 5.5% KOSPI AI-chip selloff hit Samsung/SK Hynix near-term.

based on follow-up coverage

Follow-up coverage

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