Ideas
Nvidia earnings solid but upside limited.
Nvidia's earnings were hard to fault: data-center revenue remained solid, hyperscaler capex already supported the AI outlook, the 15% product price increase de-risked guidance, accounts receivable days only rose modestly from about 45 to 60 days, and Blackwell/Rubin expectations were fine. He expects Nvidia to make a new high but sees limited percentage upside from here because its AI chip monopoly is fading and Korean memory names are more attractive.
Buy Korean memory leaders over Nvidia.
Foreign long-term money is accumulating Samsung Electronics and SK hynix after the semiconductor correction, and the AI memory trade is becoming less Nvidia-dependent. HBM demand is broadening beyond Nvidia to Google TPU and other AI chip customers, with Samsung expected to gain share in HBM4. Memory makers now lead the AI hardware stack in operating margin while Nvidia's monopoly and margins fade, so Korean memory leadership should be bought and held even through short-term volatility.
Pharma/bio rally is temporary, trade fast.
Pharma and biotech are rallying because falling long-term US Treasury yields and Treasury buying are making the market react as if it is getting both rate cuts and quantitative easing. But the underlying cycle is still rate-hiking, and this rate/liquidity illusion likely lasts only until around October, when the market starts pricing the next hike before the November midterms. Therefore, pharma/bio should be treated as a short-term hit-and-run trade, not a durable long-term position.
Hold Korean cosmetics and food longer.
Within consumer discretionary, cosmetics is the standout earnings leader in both the US and Korea, and food is also beginning to move up from the bottom. Falling oil prices and Treasury yields are creating a rate-cut-like effect, and after the US midterm-related pause resolves, stimulus and consumer spending should support these sectors through September and October. He argues this trade should be held longer than the temporary pharma/bio rate trade, with profits already being taken in cosmetics but the trade extended rather than exited immediately.
Battery materials lack real buying.
Korean battery material names like EcoPro are only attracting short covering, not persistent real buying like Samsung SDI and LG Energy Solution. Because the structural catalysts such as US policy, ESS, humanoid robots and solid-state batteries are differentiating cell makers, the materials side does not yet have the same bottoming signal and should not be treated as having bottomed.
Battery cell makers show real bottoming.
Samsung SDI and LG Energy Solution showed real buying rather than mechanical short covering, even while semiconductors fell, suggesting the secondary battery cell makers may be forming a bottom. The demand catalysts are US policy, ESS, humanoid robots and solid-state batteries, which differentiate cell makers from materials. The bottoming signal is limited to the cell-maker side.
Buy Hyundai Electric and Hyosung Heavy.
AI data-center buildout continues to support electricity demand, and Korean power-equipment makers have already shown that tariffs were absorbed by US buyers and later lowered, leaving earnings unaffected. After the correction, he recommends shifting within the sector from a growth-momentum approach to a valuation and foreign-flow approach: pair HD Hyundai Electric with Hyosung Heavy Industries rather than overweighting LS Electric, because foreign investors now prefer cheaper, fundamental, stable names over momentum names.
Hold semiconductors, don't chase KOSDAQ.
After sharp semiconductor declines and strong KOSDAQ rebounds, retail investors repeatedly face pressure to sell recovering semiconductor positions and chase KOSDAQ momentum. He argues that unless someone is a short-term trader, they should resist that temptation and hold semiconductor positions at least until around October, when hyperscaler demand and market conditions are better confirmed, because chasing KOSDAQ after a semiconductor drop tends to cause regret.
This 3PRO TV (삼프로TV) video, published August 27, 2026,
features Lee Ji-hwan
discussing NVDA, 000660.KS, 005930.KS, Korean Pharma/Bio, Korean cosmetics, Korean food, 086520.KQ, 006400.KS, 267260.KS, 298040.KS, KOSDAQ.
8 trade ideas extracted by AI with direction and confidence scoring.
Speakers:
Lee Ji-hwan
· Tickers:
NVDA,
000660.KS,
005930.KS,
Korean Pharma/Bio,
Korean cosmetics,
Korean food,
086520.KQ,
006400.KS,
267260.KS,
298040.KS,
KOSDAQ
