[Featured Stocks] Domestic Semiconductor Stocks Also Rise on Nvidia Tailwind

Domestic semiconductor stocks are also rising alongside the nearly 3% increase of Nvidia, the leading US semiconductor company, on the New York Stock Exchange.

Samsung Electronics announced preliminary consolidated results for the third quarter with sales of 67 trillion KRW and an operating profit of 2.4 trillion KRW, exceeding expectations by more than 2 trillion KRW. The photo was taken on the 11th at Samsung Electronics Seocho Building in Seoul. Photo by Jinhyung Kang aymsdream@

As of 11:18 AM on the 3rd, Samsung Electronics is trading at 54,700 KRW, up 2.43% (1,300 KRW) from the previous trading day. SK Hynix is recording 181,700 KRW, up 6.13% (10,500 KRW) from the previous close, and Hanmi Semiconductor is also rising more than 7%.

This follows Nvidia's 2.99% increase in the New York stock market overnight. US investment bank Bank of America (BOA) named Nvidia one of the best semiconductor stocks this year. BOA maintained a bullish stance on Nvidia, keeping its investment rating at 'Buy' and setting a target price of $190.

Meanwhile, Korea Investment & Securities predicted that SK Hynix will maintain its position as the leader in high bandwidth memory (HBM) this year as well, maintaining a target price of 270,000 KRW.

On the other hand, securities firms are lowering their price targets for Samsung Electronics one after another. According to FnGuide, three securities firms that have issued reports on Samsung Electronics this year have lowered their target prices, based on the judgment that Samsung Electronics' earnings will be lower than initially expected.