Top Samsung Analyst Predicts Stock Wipeout Will Deepen
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The slump in Samsung Electronics Co. that wiped out $28 billion of market value in six weeks will deepen as Apple Inc. and Chinese rivals take market share in handsets, according to the stock’s most-accurate forecaster.
Shares of Suwon, South Korea-based Samsung fell 13 percent since Nov. 29, losing more market capitalization than any other company worldwide. The stock will sink another 11 percent, said Adnaan Ahmad, an analyst at Berenberg in London whose recommendations during the past 12 months produced the best return among forecasters tracked by Bloomberg.