Samsung Stock Falls 30% as DRAM HBM Demand Surges to 34% in 2027

According to KB Securities analyst Kim Dong-won on July 15, Samsung Electronics stock declined 30% from recent highs due to market overreaction rather than fundamental deterioration. The analyst noted that AI infrastructure investment growth remains intact, with memory supply constraints as a core industry fundamental unchanged from one month prior.

Kim forecasted 2027 as the tightest supply year in 70 years of DRAM history, with shortages potentially extending through 2028. The proportion of HBM in global DRAM wafer production is expected to expand from 15% in 2026 to 34% in 2027, structurally constraining general-purpose DRAM capacity expansion and creating a "supply cliff" scenario for mainstream memory customers.