New York Stock Market Struggles to Recover After Tech Stock Shock: How Far Will Software Fear Spread? | Director Park Byung-chang

기술주 쇼크에 회복 어려운 뉴욕증시…SW의 공포 어디까지 이어지나 | 박병창 이사 [마켓 인사이드]
Watch on YouTube ↗  |  February 06, 2026 at 00:02  |  41:52  |  3PRO TV (삼프로TV)
Speakers
Park Byeong-chang — Director, MP Partners

Summary

Park Byung-chang, a director, reviews a weak New York session led by tech and AI-related selling. He sees Bitcoin's institutional linkage, a stalling S&P 500, and Nvidia's two-sided setup as key risks, while remaining constructive on Korean memory, KOSPI, brokerages, and low PBR/financial themes. He also discusses gold versus silver, Qualcomm's memory-cost problem, and the shift from AI infrastructure to application-layer winners.

  • US tech and AI infrastructure stocks fell as capex and AI disruption concerns weighed on the market.
  • Bitcoin is now institutionalized and correlated with Nasdaq, raising cross-asset risk if it falls further.
  • S&P 500 is testing its 20-week moving average; a breakdown could trigger systematic selling.
  • Nvidia is at a two-sided juncture between an infrastructure-led rebound and rotation to AI application winners.
  • Korean memory (Samsung, SK Hynix) remains relatively strong, and KOSPI is still in an uptrend with record liquidity.
  • Upcoming Commercial Act and Tax Act revisions may favor holding companies, financials, and low PBR stocks.
  • Gold is preferred over silver on safe-haven demand, while Qualcomm faces margin pressure from memory costs.
Ideas
Park Byeong-chang Director, MP Partners 1:19
Bitcoin decline now pressures tech.
Bitcoin is now fully institutionalized through ETFs, funds, and futures, so it no longer trades in isolation; it is highly correlated with Nasdaq, and further Bitcoin declines can trigger margin calls and cross-asset selling that pressures tech stocks.
BTC HIGH
Park Byeong-chang Director, MP Partners 3:13
Gold safer; silver too volatile.
Gold is the better safe-haven asset because it holds up on geopolitical risk, monetary debasement, and future uncertainty, while silver has been driven more by supply-demand flows and is much more volatile; the speaker regrets buying silver and warns it can fall much harder.
GLD HIGH
Park Byeong-chang Director, MP Partners 3:13
Gold safer; silver too volatile.
Gold is the better safe-haven asset because it holds up on geopolitical risk, monetary debasement, and future uncertainty, while silver has been driven more by supply-demand flows and is much more volatile; the speaker regrets buying silver and warns it can fall much harder.
SILVER HIGH
Park Byeong-chang Director, MP Partners 4:17
S&P 500 tests key 20-week line.
S&P 500 stalled around 7,000 and has fallen back to its 20-week moving average; a break below that level would force systematic funds to sell, so the index is at an important decision point even though the broader uptrend is not yet broken.
^GSPC MED
Park Byeong-chang Director, MP Partners 8:57
Memory costs hurt Qualcomm guidance.
Qualcomm fell 8% despite good earnings because memory price inflation is lifting final smartphone prices and hurting unit sales, leading to weaker revenue guidance; this makes the stock unattractive near term.
QCOM MED
Park Byeong-chang Director, MP Partners 11:19
Nvidia rebound or rotation risk.
Nvidia has fallen from $5T to $4.2T while Wall Street targets remain 30-50% higher, so a rebound could support the market; however, the market may instead rotate to AI product/service winners, making Nvidia a two-sided setup rather than a clean long.
NVDA MED
Park Byeong-chang Director, MP Partners 14:14
Apple benefits from AI commercialization.
The AI trade is shifting from infrastructure to products and services, which favors Apple because it can monetize AI through devices and services; Apple has already regained the No. 2 market-cap slot and rose 6.3% this week.
AAPL MED
Park Byeong-chang Director, MP Partners 14:14
Alphabet wins in AI services.
Alphabet is a key AI commercialization beneficiary: it is near highs, Gemini users reached 750 million, capex is doubling, and Google may sell TPUs externally, improving its cloud/AI position.
GOOGL MED
Park Byeong-chang Director, MP Partners 23:19
Record volume benefits brokerages.
Daily Korean trading value exceeded 60 trillion won and individuals bought a record 9.5 trillion won, which directly benefits securities firms through higher brokerage and trading-related revenue.
Korean brokerage stocks MED
Park Byeong-chang Director, MP Partners 24:56
KOSPI dip should attract buyers.
KOSPI is in a third uptrend and the chart is not signaling a dangerous sell; a pullback toward the 21-day moving average near 5,000 should attract buying, and record individual liquidity supports the market despite US tech volatility.
^KS11 MED
Park Byeong-chang Director, MP Partners 26:36
Korean memory names still point higher.
Memory remained relatively strong while data-center and AI infrastructure stocks sold off; Samsung and SK Hynix charts still point higher, Samsung's line conversion expands HBM4 to 25% of output, and the SK Hynix/Kioxia ITC patent probe is likely a non-event.
005930.KS 000660.KS HIGH
Park Byeong-chang Director, MP Partners 29:56
Legal revisions favor low PBR financials.
Upcoming Commercial Act and Tax Act revisions are a relatively certain catalyst for holding companies, financial companies, and low PBR stocks, so investors should prepare for that next momentum theme as the market consolidates.
Korean holding companies Korean financial companies Korean low PBR stocks MED
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This 3PRO TV (삼프로TV) video, published February 06, 2026, features Park Byeong-chang discussing BTC, GLD, SILVER, ^GSPC, QCOM, NVDA, AAPL, GOOGL, Korean brokerage stocks, ^KS11, 005930.KS, 000660.KS, Korean holding companies, Korean financial companies, Korean low PBR stocks. 12 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Park Byeong-chang  · Tickers: BTC, GLD, SILVER, ^GSPC, QCOM, NVDA, AAPL, GOOGL, Korean brokerage stocks, ^KS11, 005930.KS, 000660.KS, Korean holding companies, Korean financial companies, Korean low PBR stocks