Samsung, SK Hynix Fall 30% as NAND Flash Price Decline Looms; Analysts See Capitulation

According to Mirae Asset Securities analyst Kim Young-gun on July 23, memory chip stocks including Samsung Electronics and SK Hynix have declined around 30% from June highs, primarily due to anticipated NAND flash price drops in the second half of 2027. Market research firm Trendforce forecasts NAND TLC and QLC contract prices will fall 9.4% in Q3 2027 and 15.4% in Q4, driven by supply normalization as enterprises delay SSD purchases and manufacturers including Samsung, SK Hynix, and Kioxia ramp new capacity.

Analysts assess the recent sell-off has substantially priced in NAND weakness. Mirae Asset expects DRAM contract prices to rise 43% for DDR4 and 38% for DDR5 through end-2027, supported by growing server demand and AI infrastructure investments from Big Tech firms. The firm maintains Samsung and SK Hynix target prices at 550,000 Korean won and 4.2 million won respectively, citing reduced NAND concerns and strengthening DRAM fundamentals.