Daily Morning Investment Meeting with Fund Managers Live | Park Se-ik Executive Director & Chesley Investment Advisory [Morning Brief / 24.07.29.Mon]

Summary

The morning investment meeting covers global markets and stock ideas. Analysts highlight CATL's strong earnings and future ESS catalyst, Apple as a defensive big tech play, massive AI memory deals securing Samsung and SK hynix demand, Samsung Biologics as a quality alternative, a short-term semiconductor bounce, and cheap department store valuations. Bitcoin analysis shows long-term trend intact with extreme fear. Key events ahead are FOMC and big tech earnings.

• CATL Q2 earnings beat, large buyback announced; ESS and data center demand seen as future re-rating driver.
• Apple viewed as defensive among big tech due to limited AI capex, with services margin and foldable iPhone providing catalysts.
• Samsung and SK hynix secured $200bn and $750bn long-term memory supply deals, locking in AI demand visibility.
• Samsung Biologics presented as a quality stock with stable earnings growth, new plant contributions from Q3.
• Philadelphia Semiconductor Index oversold after July sell-off; short-term bounce expected as oil and yields ease.
• Korean semiconductor equipment sector may outperform on strong Q2 earnings during a sector rebound.
• Shinsegae and Hyundai Department Store trading at low PERs with foreign tourist spending as potential support.
• Bitcoin holds 200-day MA, fear extreme; long-term trend intact, watching for spot demand recovery.
• Key week includes FOMC decision and earnings from Microsoft, Meta, Apple, and Amazon.