The Real Reason AI Stocks Are Crashing (Not the Bubble!)
Спикеры
Ejaaz Ahamadeen
— Соведущий, подкаст Limitless (Bankless)
Josh Kale
— Соведущий, подкаст Limitless (Bankless)
The hosts analyze the sharp sell-off in AI and memory stocks, focusing on Korean giant SK Hynix. Despite record earnings and sold-out HBM supply, shares fell on a missed analyst target, Chinese competition fears, and leveraged ETF liquidations. They argue the sell-off is an overreaction and present a bullish case for semiconductor and memory plays as hyperscaler AI spending continues to surge.
- SK Hynix posted 250% revenue growth and 600% operating profit growth but sold off after missing an analyst revenue target by $1.7 billion, entirely due to being sold out of HBM.
- The sell-off was amplified by a 2x leveraged ETF in Korea, with JP Morgan estimating the liquidation is 90% complete.
- China’s CXMT memory IPO and a Chinese DUV lithography prototype sparked fears of oversupply, but the hosts dismiss both as exaggerated threats.
- Money is shifting from hyperscalers to semiconductor companies, and AI agent adoption is accelerating demand for GPUs and memory.
- The hosts recommend long-term exposure to SK Hynix, ASML, and semiconductor equities, viewing the dip as an overreaction opportunity.
Идеи
SK Hynix selloff is a massive overreaction.
SK Hynix is the dominant HBM memory provider and just reported record earnings with 250% revenue growth and 600% operating profit growth, yet the stock sold off because it missed an arbitrary analyst revenue target by $1.7 billion. The miss was due to being completely sold out of HBM supply for the quarter, not weak demand. The market’s reaction is an overreaction; the underlying AI memory demand is exponential and insatiable, making the current dip a buying opportunity.
ASML selloff on China news is overreaction.
ASML holds a unique monopoly on EUV lithography machines critical for advanced chipmaking. Recent news of a Chinese company replicating a DUV machine sparked an AI stock selloff, but the Chinese prototype is far from scalable production (only 5–10 machines planned) and poses no near-term competitive threat. The market panic is an overreaction, and ASML’s long-term demand remains strong.
Semiconductors remain the core AI play.
The massive CapEx spending by hyperscalers (Google, Meta, Amazon, etc.) is flowing directly into semiconductor companies, creating an ‘unbundling’ of the AI trade. Semiconductor earnings are surging, and the demand curve for chips and memory shows no sign of slowing. The sector remains the best way to play AI infrastructure growth, and the recent selloff is unjustified by fundamentals.
Далее
This Bankless video, published July 30, 2026, features Ejaaz Ahamadeen discussing 000660.KS, ASML, SMH. 3 trade ideas extracted by AI with direction and confidence scoring.
Speakers: Ejaaz Ahamadeen · Tickers: 000660.KS, ASML, SMH