TLDR
- Samsung Electronics stock slid 2% to ₩262,000 on Thursday even after record preliminary Q3 earnings.
- Operating profit reached ₩107.4 trillion, up 782% from last year and the first time any tech firm has cleared ₩100 trillion in one quarter.
- The number fell short of some estimates near ₩108-110 trillion, sparking a sell off.
- The move lined up with ETF rebalancing, options expiry, and the close of Samsung’s buyback program.
- Wall Street keeps a Moderate Buy rating on the stock, with 66% upside to the average target.
Samsung Electronics stock slipped 2% to ₩262,000 on Thursday. The move came right after the company unveiled its best quarterly earnings ever.
Samsung Electronics Co., Ltd., SMSD.L
Preliminary Q3 2026 operating profit landed at ₩107.4 trillion. That marks a 782% jump from the same period last year.
It’s the first time any technology company has crossed ₩100 trillion in operating profit for a single quarter. Investors still weren’t fully satisfied.
Some analysts had penciled in figures closer to ₩108-110 trillion. The gap between hope and reality was enough to send the stock lower.
Revenue climbed to roughly ₩195 trillion for the quarter. A year earlier, that number sat at ₩86.06 trillion.
High-bandwidth memory chips drove most of the gain. Demand from AI chipmakers like Nvidia has kept Samsung’s production running hot.
Foreign investors sold heavily in early trading on Thursday. That selling pressure dragged the stock toward its lows for the day.
South Korea’s KOSPI index dropped close to 2% in the same session. Chip and AI related names across the board took a hit.
The timing wasn’t random either. Analysts had already marked October 8 as a potentially rocky day for Samsung stock.
Semiconductor ETF rebalancing and options expiry both fell on the same date. Samsung’s buyback program also wrapped up that day, removing a source of demand.
Chip Partnership Offers Longer Term Support
AMD’s CEO stopped by Samsung’s Seoul office just one day before the earnings release. The two companies talked about expanding their AI chip partnership.
HBM4 supply for next generation accelerators was reportedly part of the discussion. It’s a positive sign for Samsung’s chip business down the road, even if it didn’t stop Thursday’s drop.
Chart Shows Cooling Momentum
Samsung’s daily chart shows the stock closing at ₩262,000, down 2.42% and pulling back toward the lower edge of a rising wedge. The ₩246,500 level stands out as key support, while the all-time high near ₩374,500 remains the level to beat.
RSI sits at 47.49, a neutral reading with no overbought or oversold signal. MACD has crossed below its signal line, pointing to fading short-term momentum after a bullish run through the summer.
eToro analyst Josh Gilbert said the earnings miss shows how high the bar has gotten for memory makers. He noted the market isn’t handing out points for a strong effort alone.
Gilbert added that buyers are now locking in multiyear supply deals. That gives Samsung clearer visibility into future demand heading into next year.
Samsung holds a Moderate Buy rating from Wall Street analysts right now. The average price target of ₩440,000 points to 66% upside from current levels.
Full third quarter results are due out on October 29. That release should offer more color on memory pricing and AI chip orders.
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