Kim Hong-beom

Samsung Electronics is a key beneficiary of the memory upcycle. Kim cites its 2026 operating-profit estimate rising from 90 trillion won at end-2025 to 310 trillion won now, alongside SK hynix's similar pace, as evidence that Korean earnings power is improving rapidly. He recommends buying on dips rather than fearing the high index level. Memory tightness examples also involve Samsung's own device divisions.

Kim explicitly says he likes SK hynix and owns a lot of it. He read the recent downgrade report and thought it was useful because semiconductor cycle stocks can peak when earnings growth merely slows, but he believes the cycle is not over yet. The AI/memory upcycle should continue longer than expected, so he wants to keep enjoying the upside rather than sell now.

The AI-driven semiconductor upcycle that began in September is likely stronger and longer than past cycles. It is only about eight months into a typical 1-1.5 year cycle, and the evidence is more extreme than in 2016-17: server DRAM is so tight that Samsung's own smartphone and TV customers are offering to switch to Galaxy phones or Samsung monitors to get memory supply, while Chinese mid-range smartphone makers are abandoning model launches. Kim also views AI as national-security infrastructure, which should extend the cycle and leave more upside.