The reason foreigners have been accumulating semiconductor stocks since last week has been revealed... Now is not the time to sell / Two major positive catalysts still remain (Surging Market) Kim Jang-yeol, Research Center Head

Summary

Kim Jang-yeol, research center head at Unistory Asset Management, explains the recent surge in SK Hynix and Samsung Electronics as a response to OpenAI's Astra/GPT-6, which shifts AI competition toward end-to-end agent task completion and re-accelerates demand for high-spec GPUs and memory. He argues Korean memory names are still deeply discounted relative to SK Hynix ADR and Micron, and advises against selling on small gains. He also highlights two upcoming catalysts—Micron earnings on October 1 and Jensen Huang's GTC Berlin keynote around October 20-21—and suggests reducing software exposure in favor of AI hardware.

• OpenAI's Astra/GPT-6 surprised because its end-to-end agent can complete complex tasks much more reliably, shifting value from token price to task success probability.
• That shift re-focuses AI competition on training high-performance models, driving renewed GPU and DRAM/memory demand.
• Foreigners accumulated memory shares through August and accelerated buying last week; the speaker sees Korean memory catch-up as rational.
• SK Hynix local shares trade at a deep discount to SK Hynix ADR and Micron valuation, historically extreme and therefore attractive.
• He advises not to take profits in SK Hynix and Samsung Electronics on a 5-10% move unless cash needs force it.
• Two more positive catalysts are Micron earnings on October 1 and NVIDIA GTC Berlin keynote around October 20-21.
• Software stocks, which had benefited from lower token prices, should be reduced in favor of AI hardware.