Samsung, coming off of a great Q2 from their flourishing semiconductor business and the stellar performance of the Galaxy S7 family of devices, are already near the top of the electronics world. In the running for the most valuable company in Asia, the Korean giant is such a huge force in the smartphone world, that the average consumer can easily forget that they are everywhere and do have enough products for a consumer to almost kit the home out with just Samsung products. The company makes everything from smart fridges to Internet of Things hubs and even ships, so it only stands to reason that their stock price would be fairly high. Sitting pretty at an incredible $1,220 even per share as of this writing, their market cap even beats out the likes of Alphabet, who are posting an impressive $804.46 per stock at the moment.
Samsung’s climb toward the top of the tech world found another foothold when the company’s stock price busted through the ceiling early on Thursday morning. During early trading, Samsung’s stock price was a jaw-dropping $1,433.73 per share. With an estimated total market value of $224.6 billion, putting all but a few gigantic companies out there to shame. As of May, the company ranked #18 out of Forbes’ list of the 2,000 biggest businesses in the world.
According to analysts, the median target price for Samsung shares is currently about $1,623. If this pattern keeps up for Samsung, that should be a fairly easy goal to achieve. For the third quarter, they’ll be looking to sales of their flagship Galaxy Note 7, as well as increasing ventures in virtual reality and developer advocacy, as well as their usual swell in their semiconductor business, with those businesses overshadowing their still-important sectors like appliances, home entertainment, and contract manufacturing. They will, of course, be facing down the likes of Google’s Daydream and Sony’s Playstation VR in the VR arena, as well as rising rival Huawei with the upcoming Mate 9 flagship launch, and the unpredictable unleashing of the Moto Z, which will be released unlocked some time in Q3. Of course, this is all without even touching on their dominance in a number of regions in the mid and low-budget smartphone sectors.