The future is often discussed in intriguing ways. Sometimes it is philosophers, other times economists, and on this day in June 2026, a new voice in the conversation about the future is artificial intelligence (AI). Claude, Gemini, and ChatGPT, three major AIs developed by different companies, were asked a question: "Wall Street has set a target price of 850,000 won for Samsung Electronics. What do you think?"
Interestingly, despite their different approaches, all three AIs reached remarkably similar conclusions. This was not merely a question of whether Samsung's stock price would rise or fall; it was about the company's position in the AI era.
In early June, Mehdi Hosseini, a semiconductor analyst at the U.S. investment firm Susquehanna, drew global attention by suggesting a target price of 850,000 won for Samsung Electronics, while the company's stock was around 340,000 won. This implied a potential increase of more than double, especially given that domestic brokerages had set target prices between 500,000 and 600,000 won, making the figure even more shocking.
However, the logic behind the number was more important than the number itself.
Claude focused on Samsung's overwhelming production capacity. While SK Hynix is currently seen as the leader in the HBM market, the consensus is that in the AI era, the company that can reliably supply vast amounts of memory will likely emerge as the winner. Technology can be caught up with, but production capacity cannot be built overnight. Samsung's semiconductor production infrastructure, the largest in the world, remains a formidable asset.
Gemini took a different perspective, looking at the entire industry cycle rather than just Samsung Electronics. It noted the global competition to build AI data centers, with investments in AI infrastructure occurring simultaneously in the U.S., China, Europe, Japan, and the Middle East. Just as the steel industry grew when railroads were built and the telecommunications industry expanded with the internet, the memory industry is likely to benefit explosively as AI spreads.
ChatGPT presented yet another viewpoint, focusing on the competition for AI supremacy. Many today view NVIDIA as the center of the AI revolution, which is not incorrect. However, AI does not operate solely on NVIDIA GPUs; it also requires HBM, DRAM, and SSDs, most of which are supplied by Samsung Electronics. ChatGPT interpreted the 850,000 won target not as a reflection of current performance but as a price related to future AI dominance.
Though the three AIs took different paths, they ultimately reached the same summit: the final victor in the AI revolution will not simply be the company that makes chips, but the one that supplies the AI infrastructure.
◆ The Significance of the 850,000 Won Figure
People often view stock prices as mere numbers. However, studying history shows that stock prices have always reflected the future first.
In the 1980s, many did not believe that Microsoft's software would become a larger industry than automobiles or steel. Yet, the stock market moved ahead of that belief.
Similarly, in the 1990s, when Amazon was still a loss-making company, its market capitalization surpassed that of established retail giants, and people laughed. Yet, the market was looking to the future.
In the 2000s, Apple faced a similar situation. At that time, the mobile phone market was dominated by Nokia and Motorola, but the introduction of the iPhone changed everything.
The stock market has always anticipated the future before the present.
The speculation of Samsung Electronics reaching 850,000 won follows this pattern. It is not a reflection of the company's current valuation but an imagination of what Samsung might be in 2030 or 2035.
If Samsung can dominate the HBM4 market, regain its foundry competitiveness, and establish itself as a key supplier for AI data centers and physical AI, then 850,000 won may not be an impossible figure.
Conversely, if those prerequisites fail, 850,000 won could become a mirage.
Ultimately, the number is just a result. What matters is the power that creates that number.
◆ History Always Defies Common Sense
Today, many take for granted that Samsung Electronics is the world's largest memory company. However, just 40 years ago, the South Korean semiconductor industry was no match for Japanese firms.
In the 1980s, Japan's NEC, Toshiba, Hitachi, and Fujitsu dominated the world. Even the U.S. struggled against the onslaught of Japanese semiconductors.
Who could have imagined back then that a South Korean company would come to dominate the global memory market?
Yet, Samsung did it.
Chairman Lee Kun-hee famously said, "Change everything except your wife and children." This was not just a management slogan; it was a commitment to technology and quality.
Ultimately, Samsung surpassed Japan and became number one in the world. History has always moved in this way: what seems impossible becomes reality, and what seems certain collapses.
Thus, Wall Street's discussion of Samsung Electronics reaching 850,000 won is not merely optimistic speculation; it is a reminder of the innovative history Samsung has shown in the past.
◆ What Samsung Needs to Do
However, to be realistic, Samsung Electronics has many challenges to address.
The first is HBM. In the AI era, data is the new oil, and HBM is the key device for processing that data. Currently, SK Hynix holds the advantage in the market. For Samsung to reach 850,000 won, it must prove its competitiveness in HBM4.
The second challenge is foundry. TSMC is already the world leader. For Samsung to catch up, it needs to regain not only technological prowess but also customer trust. It must win back companies like Qualcomm, NVIDIA, AMD, and Apple to choose Samsung's foundry again.
The third challenge is talent. The semiconductor war is ultimately a war for talent. In the AI era, there is a need for hybrid talent that understands design, packaging, software, and algorithms.
The fourth challenge is physical AI. Until now, AI has existed on screens. However, in the future, AI will manifest as robots, autonomous vehicles, and smart factories. As the era of physical AI opens, semiconductor demand will likely increase explosively.
For Samsung Electronics to become a true winner, it must evolve from a memory company to an AI hardware platform company.
◆ A Warning from John Templeton
However, risks always exist in the market. Legendary investor John Templeton left one of the greatest insights in investment history.
"Bull markets are born in pessimism, grow in skepticism, mature in optimism, and die in euphoria."
Before the Great Depression in 1929, people believed in eternal prosperity.
During the dot-com bubble in 2000, people thought internet companies would grow forever.
Even just before the 2008 financial crisis, many believed real estate prices would never fall.
Yet, history has repeated itself. Templeton emphasized that one must be most rational when the market is at its hottest.
He invested during World War II when everyone was gripped by fear and reaped massive profits after the crisis ended.
What he saw was not stock prices but human psychology.
◆ Warren Buffett's Simple Truth
Warren Buffett also shares a similar perspective. He has always believed in simple principles over complex theories.
First, invest in businesses you understand.
Second, invest in companies with a competitive advantage.
Third, invest in companies with excellent management.
Fourth, buy at a fair price.
Buffett advised, "Be fearful when others are greedy and greedy when others are fearful."
This is not just a simple investment adage; it means not to be swayed by crowd psychology. The same applies to investors looking at the speculation of Samsung Electronics reaching 850,000 won today.
What matters is not the number; it is whether Samsung is truly regaining its competitiveness in HBM, foundry, and AI infrastructure.
The speculation of Samsung Electronics reaching 850,000 won is not just a stock market discussion; it is a question of where South Korea will stand in the era of the AI revolution.
The three AIs analyzed the future in their own ways. Wall Street presented the numbers, while investors shared their dreams.
Ultimately, however, the market will be determined by the cold realities of technology, performance, and innovation. Technology creates hope, management realizes hope, and performance proves hope.
Stock prices will follow.
Thus, the true significance of the speculation regarding Samsung Electronics reaching 850,000 won lies not in the target price itself but in the question of whether South Korea's representative company can once again challenge the world from the center of the AI revolution.
That is the question.
And the answer will be determined by Samsung Electronics itself as it writes the history of technology and innovation in the future.
* This article has been translated by AI.
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