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Samsung Electronics could be the world’s cheapest mega-cap stock. Just don’t expect it to stay that way.
The South Korean maker of cellphones, tablets, memory chips, and big-screen TVs trades for eight times estimated 2014 earnings, and just five times projected profit excluding its massive stash of net cash and investments, which totaled $60 billion at the end of the second quarter.
Then again, Samsung itself is a colossus,...