Name: Samsung Electronics, Hynix, Micron, Samsung Electro-Mechanics: Which is the top pick? | Unistory Asset Management Kim Jang-yeol Head of Division [Emergency Interview]
Uploaded: 2026-05-30T23:00:34+00:00
Duration: 2742 s

Speakers

Kim Jang-yeol — Reporter, The Bell

Summary

Kim Jang-yeol from Unistory Asset Management discusses semiconductor and power equipment investment ideas. He ranks Micron as the top near-term memory pick, followed by Samsung Electronics and SK Hynix. He also highlights Samsung Electro-Mechanics for its structural growth in AI substrates and MLCC, and Hyosung Heavy Industries as an oversold opportunity. The overall thesis is that the AI-driven semiconductor uptrend continues, and investors should avoid panic selling.

Micron is the top memory pick for the next 1-2 weeks due to valuation upside and upcoming earnings.
Samsung Electronics is second, expected to catch up after Micron's rally, supported by HBM4E samples and strong long-term profit floor.
SK Hynix remains positive but is third-ranked in the near term.
Samsung Electro-Mechanics has a structural growth story from AI server substrate demand, with potential to re-rate to 60x P/E.
Hyosung Heavy Industries is oversold after hitting targets in May; fundamentals unchanged, offering a 20-30% discount.
The AI semiconductor supercycle continues; big tech capex is irreversible.
China's CXMT memory threat is not a near-term concern for Korean memory stocks.
The speaker advises against impulsive selling and recommends gradual risk management.

Trade Ideas

Kim Jang-yeol Reporter, The Bell 28:20

Micron leads memory stocks near-term.

Micron is the top pick among memory stocks for the near term (1-2 weeks) because its P/E multiple (9x) still offers upside compared to Samsung and SK Hynix (7x), and its upcoming earnings on June 26 will act as a catalyst. The UBS analyst's target of $1600 implies a sustainable EPS of $100 and a 10-15x multiple, providing significant upside. The valuation gap between Micron and Korean memory stocks has narrowed but still favors Micron in the short term.

Kim Jang-yeol Reporter, The Bell 28:25

Samsung to catch up after Micron.

Samsung Electronics is the second pick, with potential to catch up to Micron after the near-term Micron rally. The HBM4E sample delivery to NVIDIA signals Samsung's technological catch-up in HBM, which could lead to more balanced market share with SK Hynix next year. Samsung's valuation (7x P/E) is similar to Hynix and below Micron's, offering room for multiple expansion. Long-term, Samsung's minimum operating profit of 200-240 trillion won (implied by labor union agreement and LTA contracts) supports a target price of 40-45 million won, giving 50-60% upside from current levels.

Kim Jang-yeol Reporter, The Bell 28:33

Hynix positive but third ranked.

SK Hynix is still a positive holding but ranked third in the near term. Its strong position in HBM continues, but the recent HBM4E sample news from Samsung reduces Hynix's relative advantage. Over the medium term, Hynix should benefit from the same AI-driven demand cycle. The speaker recommends holding both Samsung and Hynix, with Hynix still attractive but likely to underperform Micron and Samsung in the next few weeks.

Kim Jang-yeol Reporter, The Bell 30:38

Samsung Electro-Mechanics structural growth play.

Samsung Electro-Mechanics is undergoing a structural change due to AI server demand. It is the only company globally that produces both MLCC and high-end substrates (FCBGA), which are increasingly integrated (silicon capacitors embedded in substrates). Competitors like Murata and Ibiden trade at 50-70x P/E, justifying a similar multiple for Samsung Electro-Mechanics. The company recently received a large order from Marvell for silicon capacitors, and the target price of 200 million won (based on 2028 earnings) offers significant upside. The stock was at 155 million won recently, providing a 30% discount to target.

Kim Jang-yeol Reporter, The Bell 36:05

Hyosung Heavy oversold, buy dip.

Hyosung Heavy Industries (and other power equipment stocks) are oversold after hitting target prices in early May. The fundamental thesis for the power transformer cycle remains intact; the company's order backlog and demand from grid upgrades are unchanged. After a pullback of 20-30% from highs, the stock now trades at a 20-30% discount to target price (450-500k won), creating an attractive entry. LS has a trust issue due to an accounting error, but Hyosung Heavy is clean and recommended.

Samsung Electronics, Hynix, Micron, Samsung Electro-Mechanics: Which is the top pick? | Unistory Asset Management Kim Jang-yeol Head of Division [Emergency Interview]

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Trade Ideas

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