BlockBeats News, August 2, Citrini analyst Jukan quoted a recent report from Nomura Securities, pointing out that Samsung Electronics' operating profit forecast has been significantly raised. Nomura expects Samsung's operating profit to increase from the current approximately 39.1 trillion Korean won (about $271.0 billion) to 63.5 trillion Korean won (about $440.1 billion), further climbing to 77.4 trillion Korean won (about $536.4 billion); free cash flow is also projected to increase from 29.6 trillion Korean won to 45.6 trillion Korean won and then to 56.3 trillion Korean won; the shareholder return rate is expected to jump from 11.2% to 17.6% and ultimately reach 22.3%. The operating profit and profit margin of DRAM and NAND are expected to continue to rise significantly over the next few years.

This upward revision echoes Bank of America Merrill Lynch's previous research conclusion. Samsung Electronics has already included 60% to 70% of its memory sales in long-term supply agreements with contract terms that "limit downside and have no limit on the upside," effectively locking in major customer demand and retaining price escalation flexibility. Against the backdrop of continued AI capital expenditures and constrained storage capacity release, the strong prices of DRAM and NAND are directly translating into Samsung Electronics' profit elasticity and cash flow return. Nomura's forecast supports this logic.