Investors are watching a busy week for semiconductor stocks, with Samsung Electronics set to release its preliminary second-quarter earnings on Monday and SK hynix planning to list American depositary receipts in the United States on July 10.
Market expectations for Samsung’s earnings are high, but the results may also reveal provisions tied to employee bonuses while higher memory chip costs squeeze its device business.
At the same time, SK hynix’s ADR listing could narrow the valuation discount it has carried relative to global peers, according to analysts. Taiwan Semiconductor Manufacturing Co. will release June sales data on Friday, offering a fresh read on demand for AI accelerators.
Samsung’s earnings preview and the memory boom question
Market consensus points to one of its strongest quarterly performances on record, driven by solid results from its semiconductor division.
But the report is expected to include bonus-related provisions, and the device business may face margin pressure from rising component costs, including memory chips. The bigger question for investors is how long the current memory chip boom will last.
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Brokerage firms have continued to raise earnings forecasts and target prices for the company. In a report released on Friday, iM Securities lifted its 2026 operating profit forecast for the company to 36 trillion won ($23.54 billion) from 34 trillion won, assuming memory chip prices will climb another 15 percent to 20 percent in the third quarter.
The memory cycle has historically been volatile, and the current upswing has already lasted longer than some expected.
A correction, when it comes, could be sharp.
But for now, the consensus remains bullish, with analysts betting that AI-driven demand for high-bandwidth memory will sustain the boom into next year.
SK hynix’s ADR listing and analyst upgrades
The company is scheduled to list its ADRs in the United States on July 10. Several brokerages — including Kyobo Securities, IBK Investment & Securities, NH Investment & Securities, KB Securities and Sangsangin Securities — have raised their target prices for the firm ahead of the listing.
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Jung Min-gyu, an analyst at Sangsangin Securities, said he set a target price of 3.8 million won based on a price-to-book ratio of 5.3 times, above the historical average. He argued that sustained profitability, expanding long-term supply agreements and the ADR listing could reduce earnings volatility while supporting both earnings upgrades and a valuation re-rating.
The simultaneous jump in target prices and the overseas listing signal a bet that the memory maker will trade more in line with global memory makers once U.S. investors can buy its shares directly. Similar moves by other Korean companies have had mixed results, but the current strength of the memory market gives this listing a clearer tailwind.
TSMC’s data due Friday
The chipmaker will release its June sales data this Friday. The number is a key indicator of demand for AI accelerators and foundry services. It will report its second-quarter earnings on July 16.
The manufacturer has been a major beneficiary of the AI chip boom, and any sign of slowing orders could ripple through the broader semiconductor sector. For now, the data release will give investors one more data point in a week already packed with semiconductor events.
