Samsung Electronics and SK Hynix plummet amid multiple woes… Another 'Black Monday', this week's big tech earnings will divide the domestic stock market in the second half

Summary

The video covers a brutal Black Monday sell-off in Korean markets led by Samsung Electronics and SK Hynix. Multiple experts argue the memory chips are deeply oversold, with valuations at 5-6x P/E, while underlying HBM/DDR5 demand remains strong. They compare the correction to NVDA's historical shakeouts and see a buying opportunity. An economist singles out Oracle as a canary for an AI spending crack-up, and notes the KOSPI is historically cheap. Big tech earnings this week are seen as a catalyst that could break the negative feedback loop between US and Korean semi stocks.

• KOSPI fell 4.4%, KOSDAQ fell 5.3% with broad-based selling, triggered by continued chip weakness and leverage unwind.
• Kim Jang-yeol highlights that SK Hynix and Samsung Electronics are trading at 5-6x forward P/E, similar to Micron, but local distortions caused additional unwarranted underperformance.
• Lee Kwon-hee draws parallels to NVDA's past 20-40% corrections to argue the drop in Hynix is a classic entry point; KIMI K3's launch underscores massive memory needs.
• Kim Han-jin points out the KOSPI is at 5x trailing P/E, below COVID-19 lows, and says if the chip cycle is structural, the sell-off is irrational.
• Oracle is called out as the weakest link in the AI capex ecosystem; its CDS spreads flash a warning.
• All speakers expect a technical bounce soon, with July 29 SK Hynix ADR conversion and big tech earnings as potential triggers.