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Re:

Why Samsung Electronics Stock Hit a Four-Year Low in November 2024

Samsung Electronics’ November 2024 four-year low reflected concerns about HBM execution, foundry losses, memory pricing and China-related trade risks—not a current 2026 low.
From TheFinanceBase Team6 min to read
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Samsung Electronics’ South Korean-listed ordinary shares (ticker 005930) hit a roughly four-year low on November 13, 2024. The headline describes a historical selloff, not Samsung’s position today: the stock was down nearly 37% year to date at the time as investors worried about its high-bandwidth memory (HBM) progress, foundry losses, conventional-memory competition and trade risks. Samsung later reported sharply higher earnings in 2026, though that did not prevent a separate selloff over concerns that the AI boom and memory-price gains might cool.

Which Samsung stock hit the low?

The headline refers to Samsung Electronics Co. Ltd.’s ordinary shares listed in South Korea, traded under ticker 005930. It does not refer to Samsung Electronics preferred shares, U.S. over-the-counter securities such as SSNLF, or other companies in the Samsung Group, including Samsung SDI and Samsung Biologics.

Prices below are stated in South Korean won (₩) for the Seoul-listed ordinary shares. U.S. OTC prices and currency-converted amounts can differ because of trading hours, liquidity and exchange rates. The November 2024 reports describe an intraday low, which is not necessarily the same as a closing-price low.

What happened on November 13, 2024?

Samsung Electronics shares fell below approximately ₩51,000, reaching a level not seen in about four years. SamMobile reported that the stock was down nearly 37% year to date at the time. A separate account cited an intraday low of ₩51,700 and said the level was the lowest since June 24, 2020; the difference in reported figures underscores why the date and intraday-versus-close basis matter. SamMobile’s November 2024 coverage and the separate price account document those figures.

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The broader South Korean market was also under pressure, so the move was not entirely company-specific. But Samsung’s decline was especially severe relative to several major chipmakers and SK hynix. The market was reassessing Samsung’s future earnings and competitive position—not simply reacting to whether the company was profitable that quarter.

Why investors were selling

Samsung appeared to be behind in AI memory

High-bandwidth memory, or HBM, is stacked memory used alongside AI accelerators in data centers. Its performance and capacity make it valuable for systems that handle large AI workloads. By late 2024, investors were focused on whether Samsung could make progress with HBM3E and win substantial orders from major customers, including Nvidia.

The concern was not that Samsung made no AI-related memory. Rather, SK hynix was widely viewed as executing better in the HBM market, making it look more directly positioned to benefit from AI-server demand. That left investors questioning whether Samsung’s broader memory business could capture as much of the fastest-growing, higher-value segment. SamMobile’s account of the 2024 decline identifies HBM3E execution as a central concern; it does not establish that Samsung had no HBM business or that a particular customer had rejected it.

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Foundry losses raised doubts about manufacturing economics

Samsung’s foundry business makes chips for outside customers. It was also described as losing money, while reports pointed to temporary production reductions or lower utilization at parts of its capacity. Such decisions are not the same as permanently shutting down half the business: the reported reductions were period-specific.

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Low utilization is costly because advanced fabrication plants require large fixed investments. When fewer chips are produced, those costs are spread across less output, making it harder to improve margins. Weakness also raised questions about whether Samsung could attract enough customers to compete credibly with Taiwan Semiconductor Manufacturing Co. The foundry concerns were part of the broader 2024 investor worries described by SamMobile.

Conventional memory faced pricing and supply risks

Samsung’s scale in DRAM and NAND is a strength, but memory is cyclical: prices can fall when supply grows faster than demand. Investors were concerned that Chinese producers expanding conventional-memory output could add lower-priced supply and pressure selling prices. That mattered more when Samsung’s progress in HBM—the segment investors most associated with AI growth—looked less certain.

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SamMobile later relayed a claim that some Chinese memory prices were less than half Samsung’s. That is an attributed report, not a verified market-wide comparison across products and contract terms. The broader investor issue was the risk that extra supply could weigh on prices and margins. Follow-up coverage discusses Chinese competition alongside Samsung’s HBM and foundry challenges.

Tariffs and China exposure added uncertainty

Investors were also weighing the possibility that a future Trump administration would impose tariffs on Chinese imports. That was a risk scenario in 2024, not a confirmed tariff regime and not a single proven cause of the selloff. Possible effects included weaker demand for electronics, complications for supply chains and added uncertainty around Samsung’s exposure to Chinese customers and markets. U.S.-China technology restrictions could also affect advanced-chip sales or manufacturing arrangements.

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Korean analysts cited in the November coverage viewed Samsung as more exposed to Chinese customers and markets than SK hynix. The tariff concern therefore added to worries about demand and access, while the more immediate investment debate centered on semiconductor execution. SamMobile’s account describes the trade-policy concerns.

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Why SK hynix looked stronger to investors

The contrast was about where each company appeared best positioned, not about one company being immune to memory-market risk.

Factor Samsung Electronics SK hynix
Business mix Memory, foundry, smartphones, displays and consumer electronics More concentrated in memory
HBM perception in late 2024 Seen as trying to catch up in HBM3E Seen as leading in HBM3E
Foundry exposure A significant business and source of concern Much less central to the investment story
Investor narrative Execution improvement and a turnaround in key areas were needed More directly associated with AI-memory demand

Samsung’s wider mix can cushion weakness in one business, but it can also expose the company to several struggling areas at once. When investors reward the supplier they believe is best positioned in a particular product category, diversification alone does not guarantee outperformance. SK hynix, like other memory makers, still faces the risks of capital intensity, cyclicality and oversupply. The comparison is reflected in the November coverage and the follow-up discussion.

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Did the stock decline mean Samsung’s business was collapsing?

No. Samsung remained a major company in memory, smartphones, displays and consumer electronics. The share-price decline reflected doubts about the durability and growth of future earnings, particularly whether Samsung could compete effectively in high-value AI memory and improve foundry economics.

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A stock can fall while a company remains profitable and technologically important. Investors price expectations as well as reported results: if they lower forecasts for margins, market share or growth—or decide that a competitor has a better opportunity—the share price can weaken even without an immediate collapse in sales.

What happened after the 2024 low?

Samsung’s second-quarter 2026 results showed how much conditions could change. On July 30, 2026, the company reported operating profit of ₩89.5 trillion, a more-than-19-fold year-over-year increase, with semiconductors and AI-related memory helping drive the result. Samsung also highlighted products including HBM4 and DDR5 among its priorities, while higher component costs pressured its smartphone business. These are later developments, not facts about the November 2024 trading session. See Samsung’s official second-quarter 2026 results.

Strong results did not eliminate volatility. In a separate July 2026 episode, Reuters reported that Samsung shares fell as much as 10.1% and ended down 6.9% as investors questioned whether hyperscaler AI spending and memory-price growth could continue at the same pace. The market was also concerned that strong results had already been reflected in the share price. That episode was not a continuation of the 2024 four-year-low event; it was a later reassessment of AI-cycle expectations. Reuters’ report covers the reaction.

What investors should watch when assessing Samsung

The four-year-low label alone does not establish whether Samsung is attractively valued or whether its problems are temporary. The investment case depends on evidence about execution, demand and the semiconductor cycle. Useful indicators include:

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  • Whether Samsung gains meaningful HBM customer share and improves HBM4 yields and shipments.
  • Whether foundry utilization rises and operating losses narrow as advanced-node production develops.
  • How DRAM and NAND prices move, and whether supply growth is outpacing demand.
  • Whether semiconductor capital spending is disciplined relative to expected demand.
  • Whether earnings estimates are being revised upward or downward as results arrive.
  • How trade restrictions and tariff decisions affect customer access, costs and demand.

The upside case rests on Samsung’s manufacturing scale, a possible improvement in AI-memory execution, recovery in conventional memory pricing and better foundry economics. The downside case is that competitors retain an edge in HBM, foundry losses persist, memory supply pressures prices, or AI infrastructure spending slows. The company’s 2026 materials identify HBM4 and other high-value products as priorities, but priorities are not the same as proof of future market share or profitability. Samsung’s results announcement provides its stated strategy and reported performance.

Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.

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