Ideas
IPO deeply undervalued, huge upside potential.
ChangXin Memory Technologies (CXMT) IPO is priced cheap relative to peers. At the IPO price of 8.66 yuan, forward valuation is about 4x earnings versus domestic Chinese financial/construction peers trading at 10x. The free float is only about 5%, with most shares locked up by state institutions, which could create scarcity. The speaker expects the stock to potentially surge 300% or more upon listing, and at least a 50-100% rise seems plausible given the valuation gap. Critical date is July 27 listing.
AI-driven CCL demand, deeply undervalued.
Shengyi Technology reported strong earnings, with Q3 net profit expected to rise 131% YoY. The company commands 14% global CCL market share. CCL prices have been hiked 15% in July alone, with further increases expected due to structural supply tightness. High-end AI server CCL shipments are growing rapidly, driving margin improvement. Despite the boom, current valuation is only 0.94x P/B and forward P/E remains low. The analyst target price of 175 implies 18% upside and next-year P/E of 35x, with further earnings upgrades possible.
Bitcoin at key resistance, monitoring breakout.
Bitcoin is testing a crucial resistance around 65,400, which has been challenged multiple times in July. A break above would signal a technical trend change and a much more bullish phase. However, headwinds remain: ETF flows have turned to outflows, miners and other entities are selling, and on-chain liquidity is not yet convincingly returning. Watching whether this level is cleared on the back of the positive CPI catalyst is key.
30% drop floor, buy KOSPI for rebound.
KOSPI has fallen 30% from its high of 9,300 to around 6,500, matching the magnitude of typical bear markets during US recessions. However, current US economic data and bank earnings show no recession risk; major US banks and big tech are making new highs. Historically KOSPI only drops 50% when a US recession hits, so the downside from here is very limited. With CPI easing, the speaker is deploying cash, expecting a rebound to the 8,000 level at minimum.
CPI drop means Treasury yields will fall.
CPI dropped sharply from 4.2% to 3.5%, reminiscent of 2018 when such a decline led the 10-year Treasury yield to fall with a lag. The speaker expects the 10-year yield, currently at 4.59%, to decline meaningfully as inflation continues to cool, which would be a strong tailwind for bonds.
Buy semicon equipment at cheap valuations.
Among Korean semiconductor equipment names, HPSP and Leeno Industrial have pulled back to valuations of 26x, levels below 30x that have historically been excellent buying opportunities whenever semiconductor sentiment is reasonable. With the memory upcycle ongoing and earnings outlook solid, these entry points offer attractive risk/reward.
AI super-cycle, MLCC shortages, deeply undervalued.
Samsung Electro-Mechanics is the backbone of the AI cycle through MLCCs and substrates. AI server MLCC demand is multiples higher per unit, and supply is extremely tight with utilization already at 95%. Price hikes for MLCCs have not even started yet, while the company is shifting toward high-value products. Substrate shortages also support further ASP increases. After halving from 240,000 won to 120,000 won, the stock now trades at roughly 25x next-year earnings. If MLCC prices rise 20-30%, EPS could explode to 6-7 trillion won by 2028, putting the stock at only ~18x forward P/E, making current levels highly attractive.
Memory cycle intact, buy Samsung and Hynix.
Memory chip demand driven by AI remains structurally intact. Temporary summer softness and profit-taking historically create buying opportunities, not the start of a downturn. Earnings estimates for Samsung Electronics and SK Hynix continue to rise, and the current sell-off is viewed as a ‘semiconductor did nothing wrong’ correction. The house maintains an overweight recommendation on both Samsung Electronics and SK Hynix, expecting a trend rally after July earnings confirmations.
ASML strength lifts US semi equipment stocks.
ASML's upcoming earnings are expected to be strong, driven by massive expansion in semiconductor fab construction. This should provide positive momentum for the entire US semiconductor equipment space. Stocks like Applied Materials, Lam Research, KLA, and Teradyne are likely to gain as the capex super-cycle continues.
This Chesley Investment Advisory (체슬리투자자문) video, published July 14, 2026,
features Wang Bujang, Chu Yak-ju, Park Se-ik, Choi Ho
discussing CXMT, 600183.SS, IBIT, EWY, TLT, 403870.KQ, 058470.KQ, 009150.KS, 005930.KS, 000660.KS, LRCX, ASML, KLAC, AMAT, TER.
9 trade ideas extracted by AI with direction and confidence scoring.
Speakers:
Wang Bujang,
Chu Yak-ju,
Park Se-ik,
Choi Ho
· Tickers:
CXMT,
600183.SS,
IBIT,
EWY,
TLT,
403870.KQ,
058470.KQ,
009150.KS,
005930.KS,
000660.KS,
LRCX,
ASML,
KLAC,
AMAT,
TER
