Can I just hold on like this...? What will happen after earnings announcements? | Son Suyeon, Hana Securities Yongsan WM Center PB [Double Crew]

Summary

Son Suyeon, a PB at Hana Securities, addresses the market sell-off in Korean semiconductor stocks following China's Kimi K3 AI launch. She argues that SK hynix's 43% drop is excessive given robust earnings and unchanged DRAM prices, and that the Chinese AI model does not threaten memory demand. She advises holding SK hynix, points to strong DRAM ETF inflows and upcoming big tech earnings as potential catalysts, and maintains a positive outlook on memory semiconductors.

• China's Kimi K3 AI model sparked cost-efficiency fears, but Son Suyeon says its computing constraints mean it won't slash memory demand.
• SK hynix fell 43% from its high, yet the company is highly profitable and DRAM prices remain firm; the sell-off is attributed to technical supply factors.
• She believes the stock is now cheap and advises against selling, suggesting big tech earnings this week may provide a positive reversal signal.
• DRAM ETFs saw strong inflows of $2.4 billion over five months, indicating institutional dip-buying in memory.
• Big tech capex continues to rise, and she expects memory demand to persist, supported by long-term supply contracts.
• Upcoming earnings from US big tech firms are seen as the key event that could confirm or challenge the bullish memory thesis.