Mirae Asset: Samsung HBM Expansion Expected to Offset 2027 General Memory Slowdown

Mirae Asset Securities analyst Kim Young-gun stated that the expansion of Samsung Electronics' (Samsung Electronics) HBM shipments for AI applications is expected to mitigate the impact of slowing growth in general memory chips by 2027. Samsung's HBM shipment capacity and average selling price are projected to surge by 57% and 49% respectively, outpacing the 16% and 20% growth expected for general memory. While a stronger Korean won against the US dollar may weigh on earnings, overall performance is expected to remain robust. Mirae Asset has adjusted Samsun