Are All Bad News Reflected? Will the Rebound Begin in August? | Lee Kwon-hee, CEO of Wizwave [Double Up]

Summary

Lee Kwon-hee, CEO of Wizwave, argues that all bad news is fully priced into Korean memory stocks after a 40% crash. He sees a broad market rebound starting in August, with SK Hynix and Samsung Electronics both deeply undervalued. He also highlights Hanwha Ocean's stellar earnings despite the sell-off, and expects Micron to recover. While bullish on most big tech, he warns Apple could lose its market-cap rank next year.

• SK Hynix delivered solid Q2 earnings with FCF surging; forward P/E is near 4x, presenting a bargain after a 45% drop.
• Samsung Electronics trades at 3.8x forward P/E and is expected to boost dividends, making it extremely cheap.
• The Korean market has fallen nearly 40% with extreme bearish sentiment, signaling a bottom and potential broad August rebound.
• Hanwha Ocean recorded commercial shipbuilding margins above 20%, yet the stock fell on poor sentiment, creating a turnaround opportunity.
• Micron Technology was unfairly sold down in sympathy with Korean memory and is attractively valued around 6x forward P/E.
• Apple may be pushed out of the top 10 global market cap as other big tech firms demonstrate AI investment returns.
• Worries about Big Tech capex are exaggerated; Meta's co-investment model already shows paths to monetization.