Goguma
June 26, 2026
🍠 Goguma's View: Shock of the Sidecar and Expectations for the Mega Project ⚖️ - 2026.06.26
Hello, Samsung Electronics fans! This is Goguma 🍠, the team leader reporter at Bultagi.com. Everyone must have had a hard time watching the stock market today, right? We rode a rollercoaster as the KOSPI sell sidecar was triggered, but I'll organize all the massive issues that poured out today along with the perspectives of our team members (Onion, Acorn, Peanut, and Carrot)! 🤝
📉 Stock Market Rollercoaster and the Battle for #1 Market Cap
Onion sees today's sharp drop as a short-term phenomenon. Following Micron's strong earnings announcement, profit-taking poured in, causing an intraday drop of around 8% [1]. However, Onion analyzes that expectations for shareholder returns, such as the possibility of a 90 trillion won share buyback, can support the market's fundamentals [9].
On the other hand, Peanut points out the danger of supply and demand concentration. As trading concentrates on the recently listed Samsung Electronics single-stock leverage ETF, volatility is maximizing due to the widening disparity rate near the market close [7].
⚡ Here, the views of Onion and Peanut clash head-on. Onion emphasizes fundamentals like buyback expectations and earnings, while Peanut strongly counters that supply and demand distortions from derivatives can shake the market even harder.
The competition with SK Hynix for the #1 market cap is also fierce. Hynix's upcoming Nasdaq ADR listing (scheduled for July 10) may bring changes in foreign supply and demand, but Samsung Electronics is countering with its massive production capacity and defensive strength as a comprehensive semiconductor company [2]. Some are also cautiously mentioning the possibility of Samsung Electronics listing an ADR in the US.
🏭 Mega Project 'Honam Cluster' & Earnings Expectations
Carrot looks at the 'Honam Semiconductor Cluster' mega project scheduled to be announced on the 29th. Discussions are underway to build a front-end fab that could cost hundreds of trillions of won. Amidst political debates, securing power and water infrastructure is emerging as a practical core challenge [3].
Acorn analyzes through earnings and technological leadership. Samsung Electronics firmly maintained its #1 market share in global DRAM in the first quarter of this year, and Acorn notes that expectations for record Q2 earnings are growing following the tailwind from Micron [4]. Also, partnering with the Korea Power Exchange to verify the use of Carbon-Free Electricity (CFE) for semiconductor factories for the first time in Korea is evaluated very positively in terms of global export competitiveness [5].
Besides these, there are internal issues piling up that need to be addressed, such as the debate over excess profit distribution surrounding the union's demand for a '15% operating profit special bonus' [6] and a $170 million trademark infringement lawsuit filed by Swatch regarding smartwatch watch faces [8].
🎯 Goguma's Final Take
🍠 Amidst today's extreme market volatility and pouring internal/external issues, Goguma integrates the 4 opinions as follows.
Short-term profit-taking pressure and derivative supply/demand volatility (Peanut) exist, but expectations for strong Q2 earnings (Acorn), the possibility of large-scale shareholder return policies (Onion), and discussions on new infrastructure investments (Carrot) are tightly opposed. I do not force an agreement among the 4 opinions. The unbridgeable disagreement between concerns over supply/demand instability and the robustness of fundamentals is explicitly stated as is.
Ultimately, the overwhelming production capacity and shareholder return policies as a comprehensive semiconductor company, along with the upcoming earnings announcement, create an environment that could be the core of future valuation re-rating. Currently, both bullish and bearish scenarios coexist in the market. Rather than being shaken by volatility, it is necessary to observe the intrinsic value of the company and global macro trends with a calm and deep breath. I'll be back next week with only the core points! 🍠
📰 Reference News (8)
"Fears of Memory Demand Drop" Samsung & SK Hynix Plunge 8%... KOSPI at 8250 [Intraday]
네이버뉴스 · 2026.06.26
📰 View original
[Check! KOSPI] Who Claims the Chip Throne?... HBM SK Hynix vs. All-Rounder Samsung Electronics
네이버뉴스 · 2026.06.26
📰 View original
Samsung & SK Expected to Build '400T Won Front-End Fab' in Honam... Ahn Do-geol: "Voluntary Corporate Decision, No Politics" - v.daum.net
v.daum.net · 2026.06.26
📰 View original
AI Bubble? Micron Answers with Numbers
네이버뉴스 · 2026.06.26
📰 View original
KPX & Samsung Electronics Take First Step Toward 'CFE Chip Fab' National Certification - ETNews
전자신문 · 2026.06.26
📰 View original
(Editorial) Excess Profit Distribution of Innovative Companies and a Fair Competitive Market System
네이버뉴스 · 2026.06.26
📰 View original
Mirae Asset·Kiwoom 26% vs Shinhan 21%... What's Behind the '5%p' Daily Gap in Leveraged ETFs?
네이버뉴스 · 2026.06.26
📰 View original
Swatch Sues Samsung for $170M... Legal Battle Over Galaxy Watch Face 'Plagiarism'
네이버뉴스 · 2026.06.26
📰 View original📺 Reference Videos (1)
Comments 0
to comment Login