Ideas
Samsung leads Korean market rebound.
Samsung Electronics is a key bullish expression. Choi says its January 2 rebound validates his view; after long consolidation its chart is strong and it has nearly doubled from the 60,000-won area. As Samsung rises, KOSPI and KOSPI 200 rise; institutions underweight Samsung and SK hynix buy futures, and program buying follows. The January 8 preliminary Q4 earnings report is a near-term catalyst, and ETFs with heavy Samsung weights are alternatives for indirect exposure.
AI semiconductor earnings cycle stays strong.
Choi argues the US market is shifting from a broad AI-theme rally to an IT semiconductor earnings market. AI hardware and especially memory are strong: DRAM/NAND price increases are lifting earnings visibility, Micron surged, TSMC and AMD were strong, and out-of-the-money semiconductor call buying shows elevated upside expectations. He expects Korean semiconductor momentum to continue, reinforced by the HORSE supercycle theme for memory semiconductors.
SK hynix rides memory supercycle.
SK hynix is another direct beneficiary of the memory semiconductor supercycle. Choi notes the stock is strong alongside Samsung, that market expectations include around KRW 100 trillion in operating profit, and that its large KOSPI 200 weight is a core reason institutions use futures and program buying to gain exposure. He expects the memory cycle to continue.
Monitor AI software rotation timing.
Choi notes AI software has been weak because investors are focusing on margins and cash flow, but he later says not all AI names run together and software can run in rotation. The takeaway is to monitor timing in AI software rather than treat it as a uniform AI trade.
Biotech improves into healthcare event.
Choi notes biotech has been doing well recently and that KOSDAQ strength has been partly led by bio/pharma. The JPMorgan Healthcare Conference is an upcoming catalyst, so he flags biotech as a sector to monitor around January events rather than a clear immediate long.
Physical AI and humanoids lead.
Choi makes humanoid and physical AI his top 2026 CES and HORSE theme. The 2026 CES slogan is Innovator Show Up, and he says humanoid robots must prove real-world capabilities beyond dancing or taekwondo. Physical AI, meaning AI entering the real economy, will be the key theme, and CES will showcase many humanoid and robotics companies.
China may showcase AI strength.
Choi sees China as the most important CES 2026 story. Because Tesla and Nvidia host their own events, Chinese humanoid and robotics companies may attend CES in force and use it to demonstrate China’s AI strength. DeepSeek’s new research and expected next model add to the setup, making China AI/robotics a theme to monitor.
Gold, silver, copper uptrend continues.
Choi expects gold, silver, and copper to remain in uptrends because demand is high and supply is constrained. CME margin increases across precious metals signal speculative positioning and higher volatility, and prices initially fell before recovering. Silver has an additional industrial-demand angle alongside its investment demand, while he expects continued gains with higher volatility.
US major indices continue higher.
Under the HORSE Ongoing theme, Choi says US representative indices continue higher. The 2026 bull market is not over, risk-on retail flows remain, and investors can stay long, though he advises lowering expected returns after large gains and rotating carefully rather than assuming all AI names will keep running.
Korea re-rating continues.
Choi is bullish on Korea’s market re-rating. He says Korean earnings visibility is very clear, order backlogs are large, and the memory semiconductor and power equipment supercycles continue. Foreign futures buying, institutional futures purchases as substitutes for Samsung and SK hynix, and program buying are reinforcing upward momentum. He expects the KOSPI re-rating to continue in 2026.
Power equipment supercycle continues.
Within the HORSE supercycle theme, Choi says the power equipment supercycle will continue. This is tied to the same structural demand backdrop as AI and data-center buildout, and he presents it as a persistent 2026 investment theme even without naming a single company.
Aging drives easy income demand.
Under the HORSE Easy Income theme, Choi expects income demand to keep growing because both Korea and the US are aging societies. He argues investors will favor income-generating strategies that make regular cash flow easier to obtain, supporting the investment case for income-focused assets and ETFs.
AI data centers will run.
Choi warns not all AI names will run together, but says data centers will be one of the rotating AI areas that can run. Earlier he highlighted Vertiv’s strong move as evidence of AI data-center strength. This supports a constructive view on AI data-center infrastructure even as leadership rotates.
This 815 Money Talk (815머니톡) video, published January 04, 2026,
features Choi Chang-gyu
discussing 005930.KS, SMH, 000660.KS, AI software, XBI, Humanoid robots, Physical AI, China AI/robotics, GLD, SILVER, COPPER, SPY, EWY, Power equipment, Income-generating assets, AI Data Center Infrastructure.
13 trade ideas extracted by AI with direction and confidence scoring.
Speakers:
Choi Chang-gyu
· Tickers:
005930.KS,
SMH,
000660.KS,
AI software,
XBI,
Humanoid robots,
Physical AI,
China AI/robotics,
GLD,
SILVER,
COPPER,
SPY,
EWY,
Power equipment,
Income-generating assets,
AI Data Center Infrastructure
