LPL - Samsung: Strong Buy With Growth Expected Across All Segments

• We analyzed the company’s diversified revenue streams from its business segments and expect its largest segment (Mobile) revenue growth at 5.8% through to 2026.
• For its semiconductor business, we expect its growth to be driven by robust growth in the DRAM (34%) and NAND (26%) markets as well as its continued expansion in foundries.
• Lastly, we forecasted its TV segment revenue growth at 2% in 2022, as well as a 4.9% CAGR for its other consumer electronics revenue.
• With the stock down almost 25% from its peak, we believe there is a  strong buying opportunity for Samsung stock, given the expected growth across all of its segments.

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