Published : Aug. 28, 2012 - 20:20
Brokerage houses are issuing the “buy” opinion on shares of Samsung Electronics despite Apple’s winning in a patent lawsuit against the Korean electronics giant in the U.S.
Many research analysts say that uncertainties and a worse-than-expected scenario had already been reflected in Samsung stock prices.
Citi Global Market Securities said that recent stock prices of Samsung Electronics was already impacted by anxiety over results from the suit in the U.S., advising that “it would be better to purchase Samsung stocks when the price slips.”
UBS claimed that a sales ban on Samsung Electronics smartphone products in the U.S. will have negligent effects on total earnings of the company, pointing out that “the products under the suit were outdated models.”
The securities firm predicted that a ban on the smartphone models ― under the scenario that the U.S. court accepts Apple’s petition ― will negatively affect only 1-2 percent of Samsung’s fourth-quarter operating profit.
On the Korea Exchange, foreign investors were net sellers of Samsung shares worth 118.1 billion won ($104.5 million) between Aug. 13 and Aug. 24. Its price dropped by around 5 percent.
But the stock prices climbed again to close at nearly 1.2 million won per share on Tuesday after plunging 7 percent in a previous trading session.
Earlier, Hanwha Securities and Tong Yang Securities set the target of 2 million won for the company’s stock price. Hyundai Securities and KB Investment & Securities predicted that its share price would come to 1.9 million won.
Samsung has been decoupling with other stocks on the bourse. While the world’s top chipmaker has seen its market cap grow by 18 percent since February, the total market cap of the Seoul bourse excluding the electronics giant increased by only 1 percent.
In the U.S., Apple shares hit new record highs in Monday trading after the company’s legal victory against Samsung.
Apple shares reached $682.07 before easing to $677.00, up 2.1 percent. The California gadget maker was awarded $1.05 billion in damages for patent infringement in the U.S. court victory over Samsung on Friday, in one of the biggest patent cases in decades.
The ruling could alter the smartphone landscape in which Apple has been losing ground to rivals like Samsung that use the free Android system developed by Google. Google’s shares fell 1.3 percent.
By Kim Yon-se (kys@heraldcorp.com)