Samsung Electronics shares on pace to hit all-time high

[THE INVESTOR] After posting the best earnings in years, Samsung Electronics’ share price is continuing to gain positive momentum in recent days on renewed expectations about its upcoming Galaxy Note 7 smartphone.

Samsung saw its share price cross the 1.5 million won threshold on July 11 for the first time since March 2015.

Many eyes are now on whether the company’s share price can break the record high of 1,584,000 won ($1,389.2) set on Jan. 3, 2013.

The shares closed slightly up 0.19 percent at 1,543,000 won on July 21.

The firm’s stock price usually shows an upbeat move, corresponding to its new phone launches that come twice a year.

The Korean tech giant releases its flagship Galaxy S series in March and its larger version Galaxy Note in August.

Samsung will hold an unveiling event for the Galaxy Note 7 phablet on Aug. 2 simultaneously in New York City, London and Rio de Janeiro.

Some anticipated that the recent upward movement of Samsung’s stock may not be short lived.

“If the firm’s return on equity ratio, currently at around 10 percent and on an upward trend, continues to increase, the stock price could jump to 1.9 million won and, even to 2.3 million won,” said Ahn Hyuk, an analyst from Korea Investment & Securities.

Some of the tech giant’s suppliers including Amotech, Hansol Technics and Sekonix also saw their stock prices soar in recent days.

By Kim Young-won (wone0102@heraldcorp.com)