Ko Tae-hoon

Ko views SK Hynix as more advantageous than Samsung Electronics because it is a pure-play memory (HBM/DRAM) company, allowing a higher valuation multiple, and it faces less disruption from labor strikes, unlike Samsung which has complex business lines and ongoing union tensions. SK Hynix benefits directly from AI-driven memory demand growth.

Ko prefers Alphabet (GOOGL) among the Magnificent Seven because it owns its own TPU custom chip for inference, cloud revenue growth is accelerating and gaining share, it possesses the frontier model Gemini, offering a lock-in advantage through bundled services, and its valuation is cheap compared to other AI value chain participants. This combination gives Alphabet a differentiated edge over Amazon and Microsoft, which rely on third-party models.

The speaker recommends gradually buying SK hynix and Samsung Electronics during the current sell-off, as their fundamental earnings remain strong and the medium-term risks (US retaliation or China reconciliation) are not yet materialized. He advises holding overweight positions and trimming only on strength when risks become clearer.