Ideas
Lee Jaeman
Head of Global Investment Analysis, Hana Securities Research Center
5:53
Alphabet has turnaround and cheaper valuation
Alphabet is the standout new US tech leader: 2026 revenue growth is expected around 15%, its net income base is massive at about $141 billion, and its 2026 PER is about 27.7x versus NVIDIA's 39.5x. The revenue turnaround plus huge profit base can lower the PER and make the stock relatively attractive.
Lee Jaeman
Head of Global Investment Analysis, Hana Securities Research Center
6:04
Micron, Intel beat Nvidia growth
Within US semiconductors, the speaker screens for companies whose net profit growth exceeds NVIDIA's forecast 56% and whose valuations are low. Micron and Intel meet the faster-growth test; Micron additionally trades around 11x PER and 4.5x PBR, far below NVIDIA, creating relative value.
Lee Jaeman
Head of Global Investment Analysis, Hana Securities Research Center
6:13
US tech leadership is rotating
NVIDIA has been consolidating since late October, but US technology is not broadly weak. Leadership is rotating within tech to companies with stronger relative earnings growth or turnaround stories, so the speaker advises staying exposed to US tech while screening for relative winners rather than abandoning the sector.
Lee Jaeman
Head of Global Investment Analysis, Hana Securities Research Center
12:34
Korean tech screen beats SK hynix
Using SK hynix as the Korean tech benchmark, Daeduck Electronics and Jusung Engineering screen as having higher 2026 earnings growth than SK hynix and/or lower PER/PBR, offering relative-value exposure inside Korean technology.
Lee Jaeman
Head of Global Investment Analysis, Hana Securities Research Center
12:34
Samsung grows faster and is cheaper
Samsung Electronics is a relative-value long within Korean tech: 2026 net profit growth is expected around 114%, higher than SK hynix, while its PER/PBR are lower than SK hynix's. It is also one of the two stocks driving most KOSPI gains and roughly 47% of combined KOSPI net profit.
Lee Jaeman
Head of Global Investment Analysis, Hana Securities Research Center
16:32
Mortgage relief lifts Home Depot, Lennar
Trump's order for $200 billion of MBS purchases helped push 30-year mortgage rates to about 6.2%, the lowest since 2022. Housing is the major asset that lagged due to high rates, so the recovery expectation lifted Home Depot and Lennar as key consumer discretionary leaders.
Lee Jaeman
Head of Global Investment Analysis, Hana Securities Research Center
19:21
Below 4% 10Y favors rate-sensitive consumers
If the US 10-year Treasury yield falls below 4% toward 3.5%, rate-sensitive consumer discretionary should lead. In the US, retailers such as Walmart and Amazon, Nike, and autos outperform; in Korea, securities, autos, and healthcare/pharma tend to perform best. This is a setup to prepare as rates fall rather than an immediate buy.
Lee Jaeman
Head of Global Investment Analysis, Hana Securities Research Center
24:05
Copper producers beat processors on pricing
Copper price increases benefit primary producers but hurt secondary processors that cannot pass through input costs. Freeport-McMoRan's operating margin is expected to rise from 26% to 32%, while Aurubis's margin is expected to fall from 3-4% to 1.8%, illustrating the pricing-power gap.
Lee Jaeman
Head of Global Investment Analysis, Hana Securities Research Center
24:05
Copper producers beat processors on pricing
Copper price increases benefit primary producers but hurt secondary processors that cannot pass through input costs. Freeport-McMoRan's operating margin is expected to rise from 26% to 32%, while Aurubis's margin is expected to fall from 3-4% to 1.8%, illustrating the pricing-power gap.
Lee Jaeman
Head of Global Investment Analysis, Hana Securities Research Center
25:47
Buy cyclicals with strong pricing power
When commodity or input costs rise, traditional cyclicals with strong pricing power can pass costs to customers and expand margins. The speaker highlights US names GE Aerospace, Chevron, Linde, Eaton, Lockheed Martin, Northrop Grumman, and Newmont, plus Korean shipbuilders, defense, electrical equipment, energy, and materials names as high pass-through beneficiaries.
Lee Jaeman
Head of Global Investment Analysis, Hana Securities Research Center
29:35
KOSPI can reach 5,600
KOSPI can rise to about 5,600 from roughly 4,550 because Samsung Electronics and SK hynix explain most index gains and about 47% of net profit. Applying the remaining semiconductor upside of about 61% to the semiconductor market-cap weight of 38% implies roughly 23% KOSPI upside, with the target more likely in H1 as the chip earnings cycle peaks in Q2/Q3.
Lee Jaeman
Head of Global Investment Analysis, Hana Securities Research Center
30:19
SK hynix drives Korean chip upcycle
SK hynix is the Korean semiconductor benchmark and a core KOSPI profit driver. Its 2026 net profit growth is expected around 75%, and together with Samsung it accounts for about 47% of KOSPI net profit; DRAM price strength and earnings visibility underpin the Korean chip upcycle.
Lee Jaeman
Head of Global Investment Analysis, Hana Securities Research Center
35:14
Korean semis have 61% upside
Korean semiconductors have high earnings visibility from US tech capex, rising DRAM prices, and favorable FX for exports. 2026 semiconductor net profit is expected to reach a record around 156 trillion won, with three-year profit growth of about 189%; using the 2016-18 super-cycle ratio of 1.08x stock return to profit growth implies about 61% further upside, and the current 8.8x PER is below global semiconductor peers at 18-20x.
This 3PRO TV (삼프로TV) video, published January 11, 2026,
features Lee Jaeman
discussing GOOG, MU, INTC, XLK, 353200.KS, 036930.KQ, 005930.KS, HD, LEN, WMT, AMZN, NKE, US auto sector, Korean securities sector, CARZ, Korean healthcare/pharma sector, FCX, NDA.F, 047810.KS, 267260.KS, 010140.KS, 010950.KS, 103140.KS, GE, CVX, LIN, ETN, LMT, NOC, NEM, 329180.KS, 012450.KS, 042660.KS, ^KS11, 000660.KS, Korean semiconductor sector.
13 trade ideas extracted by AI with direction and confidence scoring.
Speakers:
Lee Jaeman
· Tickers:
GOOG,
MU,
INTC,
XLK,
353200.KS,
036930.KQ,
005930.KS,
HD,
LEN,
WMT,
AMZN,
NKE,
US auto sector,
Korean securities sector,
CARZ,
Korean healthcare/pharma sector,
FCX,
NDA.F,
047810.KS,
267260.KS,
010140.KS,
010950.KS,
103140.KS,
GE,
CVX,
LIN,
ETN,
LMT,
NOC,
NEM,
329180.KS,
012450.KS,
042660.KS,
^KS11,
000660.KS,
Korean semiconductor sector
