OpenAI IPO Variable Emerges... Semiconductor Correction, Is It an Opportunity? | Kim Jang-yeol, Head of Unistory Asset Management Research Center [Global Interview]

Summary

Kim Jang-yeol analyzes the semiconductor correction, noting the Philadelphia Semiconductor Index breaking its 20-day moving average as a short-term warning but believing the fundamentals remain intact. He highlights Micron and SK hynix as attractive on dips with specific price targets, while advising patience on Samsung Electronics until a pullback to around 315,000 won. Overhangs like the OpenAI IPO delay and big tech capex noise are viewed as temporary.

• The Philadelphia Semiconductor Index 20-day break is a near-term caution signal that warrants close monitoring.
• Micron's fundamental support remains at its 20-day line, offering dip-buying opportunities with a split-order strategy.
• SK hynix's 20-day line around 2.4 million won and a valuation target near 2.38 million won (0.7x target) present a good entry zone.
• Samsung Electronics' moving averages are converging; a decline to 315,000 won would become an attractive buying point.
• Memory supply growth is expected to be limited until next year, supporting a positive medium-term outlook.
• Noise around OpenAI's IPO delay and Apple's pricing complaints is causing short-term volatility but does not alter the strong semiconductor demand story.
• Existing holders should stay in watch mode; new investors should buy cheaply with disciplined split orders.