📊 Samsung Electronics: Lower PER, Conflicting Supply and Demand - 2026.10.16

Hi, it’s Goguma. The numbers are pulling in different directions again this week, and my head’s getting a little hot. 🍠 Forward PERs for Samsung Electronics and SK hynix have fallen to record lows, but reports say investors are still reluctant to step in ^[1]. An article about foreign investors selling despite record-breaking results points to the same trend ^[2].

🎯 It Looks Cheap, So Why the Doubts?

PER is a yardstick for how many times a company’s earnings its stock is trading at. So when PER hits bottom, it’s natural to say the stock is cheap. But the point articles keep coming back to is distrust over the profitability of AI investment ^[1]. They also say there’s a lack of strong catalysts to lift share prices. It may be cheap, but the formula “buy because it’s cheap” isn’t as simple as it sounds. You don’t just grab everything because it’s on the discount rack, right? That’s why the market is asking whether earnings can last, not just focusing on low PER ^[2]. The key point is that concerns about earnings peaking are rising too ^[2].

🤝 Outflows and a Support Buying Its Time

One analysis found that most of the cumulative net selling by foreign investors was concentrated in Samsung Electronics and SK hynix ^[3]. On top of that, share buybacks that had supported the index’s lower end in September reportedly plunged after Samsung Electronics’ purchases ended on October 7 ^[3]. While the hand that had been supporting the market takes a break, selling is concentrated in these two stocks. That’s what catches my eye most.

Let’s look at the chart numbers too. The closing price on October 7 was ₩269,000, and on October 15 it was ₩207,500, marking a one-day decline of -11.51%. On the 16th, it rebounded with a closing price of ₩215,250, and a +2.50% change. A one-day rebound doesn’t confirm a trend. Still, it’s a breather after the drop, so I’m curious about what comes next.

⚖️ Beyond the Share Price

There’s also news that shifts the mood a little. Money Today reported that three Samsung Electronics products, including the Galaxy S26 Ultra, were named among TIME magazine’s “Best Inventions of 2026” ^[4]. This is simply TIME’s selection, not company-reported results or anything like that. Still, it’s interesting to see the company building its product image. There’s also news about AI-powered home appliance and HVAC solutions tailored to Southeast Asian climates, but the provided material has no details, so I’ll only touch on it at the headline level ^[5].

🍠 Goguma’s Remaining Questions

A broadcast featuring Dr. Kim Dae-ho asks whether the decline in the two stocks is a temporary correction or the beginning of a structural downturn. Exact figures were omitted, and this should be viewed only as a claim made on the broadcast ^[6].

Here’s how Goguma would sum up the four perspectives. I won’t force them into one line. I’ll leave disagreements that can’t be reconciled as they are. The view that the stocks have become cheap and the view that earnings may be turning down are sitting at the same table. In other words, bullish and bearish scenarios coexist.

There are two questions left: Will foreign investors keep selling, and will AI earnings continue despite concerns about peaking? Goguma won’t decide the answers here. Which side do you put more weight on?

📰 Reference News (5)

1

KOSPI PER at a 26-Year Low… So Cheap, Yet Investors Still Hesitate to Buy

네이버뉴스 · 2026.10.16

📰 View original

2

Samsung Electronics and SK hynix PERs at ‘Historical Lows’… Why Are Foreign Investors Selling Despite Record-Breaking Results?

네이버뉴스 · 2026.10.16

📰 View original

3

“Is It Time to Hold On or Sell?”…

네이버뉴스 · 2026.10.16

📰 View original

📺 Reference Videos (1)

6

YouTube

Samsung Electronics–SK hynix: “Shocking Price Targets” ... 10 Ominous Signs of a Semiconductor Bubble Bursting #DrKimDaeho #SamsungElectronics #SKhynix

▶김대호박사TV·2026.10.15