Samsung Stock to Drop as Apple Adds to Challenges, BGC Says
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Samsung Electronics Co. shares are poised to drop amid increased competition and the possible loss of orders from iPad-maker Apple Inc., BGC Partners Inc. said, recommending a so-called short sale of the stock.
Investors should bet on Samsung falling to the bottom of the three-month trading range of 850,000 won to 950,000 won, BGC’s Singapore-based sales manager Jamie Coutts wrote in an e-mail. Falling below 850,000 may “herald a technical target of 750,000 won” for the world’s largest maker of memory chips and flat-screen panels, Coutts wrote May 4, when the shares dropped 2.5 percent to 915,000 won. The market was shut yesterday.