The Center of Gravity Shifts, You Must Examine It | Author Jang Woojin [Double Check]

Summary

Jang Woojin discusses the current market rally, emphasizing a shift from memory to CPU-related stocks as the next AI investment theme. He recommends LG Electronics for its V-shaped rebound, SK Telecom for its Anthropic stake, and US quantum stocks over Korean speculative plays. He warns that power equipment stocks are in a short-term rebound but overvalued for 2028, and that macro risks from high interest rates could trigger a market correction in the second half.

• LG Electronics is breaking out with strong momentum as a leading stock in the final rally.
• SK Telecom is benefiting from its stake in Anthropic, which is approaching profitability and an IPO.
• The AI investment focus is moving from memory to CPU-side components, including LPDDR, substrates, and OSAT.
• Jeju Semiconductor has doubled on CPU-related demand and is a key stock in the CPU supply chain.
• Quantum computing exposure is better achieved via US equities like IonQ; Korean quantum theme stocks should be avoided.
• Power equipment stocks are rebounding but valuations for 2028 are already high, warranting caution beyond the short term.
• Rising long-term interest rates (US 30-year, JGBs) are a macro risk that could weigh on markets in the second half.
• The host and guest manage a running joke about selling Samsung Electronics at 30,000 won.