Citigroup: Samsung's stock price pullback may be a technical correction.

Peter Lee of Citigroup Group stated that despite market concerns about AI computing power surplus, the recent stock price correction of Samsung Electronics may reflect a technical correction. The analyst expects that strong demand for AI central processing units will drive server DRAM prices better than expected, supporting the South Korean tech giant's operating profit for the second quarter to reach 84 trillion Korean won. Lee raised his forecast for Samsung's operating profit in 2026 from 334 trillion Korean won to 401 trillion Korean won. "We believe that the fundamentals of storage chips are intact, and with strong CPU demand driving, server DRAM prices have been performing very well," he said. Citigroup raised its forecast for the average selling price of Samsung's mainstream server DRAM products in 2026 from $1,586 to $1,805.