The Real Reason Samsung Electronics and SK Hynix Are Rising While Other Semiconductor Stocks Are Falling! / What is the Semiconductor Momentum Hidden by ETF Supply and Demand?

Summary

Director Lee Ju-yeon analyzes the impact of new single-stock leveraged ETFs for Samsung Electronics and SK Hynix on KOSPI semiconductor stocks. He explains the rotation-driven sell-off in mid/small-cap semiconductor equipment names and argues it is a temporary opportunity. He also highlights the undervaluation of Samsung and SK Hynix and discusses the potential market effect of upcoming mega-cap IPOs.

• New single-stock leveraged ETFs caused massive rotation from existing semiconductor ETFs, mechanically selling mid/small-cap holdings.
• The selling is supply-demand driven, not fundamental; buys are recommended after the rotation stabilizes.
• Samsung Electronics and SK Hynix are undervalued at ~6x P/E with strong margins and long-term supply agreements.
• Mega-cap IPOs (SpaceX, OpenAI, etc.) could cause liquidity concerns, but historical data shows positive trickle-down effects.
• Market corrections are unlikely without rate hikes or earnings deterioration; short-term pullbacks are buying opportunities.
• Micron joined the $1T club, but near-term volatility warrants caution.