Welcome Market Rebound! Why You Must Include Big Tech Besides Semiconductors? | Seo Young-jae, Yeo Do-eun, Heo Jae-mu
Welcome Market Rebound! Why You Must Include Big Tech Besides Semiconductors? | Seo Young-jae, Yeo Do-eun, Heo Jae-mu [Morning N Investment]
Speakers
Seo Young-jae
— Manager, NH Investment & Securities
Summary
Seo Young-jae, Manager at NH Investment & Securities, discusses the market rebound driven by a hedge fund liquidation that cleared semiconductor panic selling. He recommends rotating into US Big Tech (M7) after the semiconductor bounce, naming Meta as his top pick due to massive data center capex and undervaluation, and sees a potential Tesla turnaround on robotaxi production targets.
- Hedge fund forced liquidation (Hatch Fund) cleared selling pressure, triggering a semiconductor rebound.
- Short-term semiconductor rally expected with Samsung Electronics and SK Hynix leading.
- After semiconductor bounce, rotation into US Big Tech (M7) is likely as earnings remain strong and valuations are attractive.
- Meta Platforms highlighted as the best Big Tech pick due to aggressive data center expansion and AI-driven advertising growth.
- Tesla could rebound sharply on robotaxi production guidance and full self-driving advancements.
- Cloud companies like Microsoft and Amazon offer stability with clear capex visibility.
- Capital flows are shifting back to developed markets, favoring US equities over emerging markets.
Ideas
Semiconductor panic over, rebound expected.
Forced liquidation of a large hedge fund (Hatch Fund) has cleared the panic selling in semiconductor stocks. Fundamentals remain strong, and a significant short-term rebound is underway. The oversold condition combined with earnings backdrop supports further recovery, with Korean names like Samsung and SK Hynix benefiting alongside US semiconductor index.
Rotate into US Big Tech after semis.
After the initial semiconductor bounce, capital will rotate into US Big Tech (M7) as their earnings are robust, capex fears have eased, and valuations are attractive. Holding both semis and M7 is advised, with M7 offering relative upside after being overlooked during the semiconductor rally.
Meta is top pick among Big Tech.
Meta is aggressively expanding its data center capacity (adding up to 7GW) to a scale comparable with leading cloud providers, but this growth is not yet priced in. Its core advertising business is thriving with AI-driven ad efficiency delivering 20%+ revenue growth, and the stock trades at under 20x P/E. Upcoming launch of Meta Compute cloud service could be a strong catalyst.
Tesla rebound on robotaxi production targets.
Tesla has sharply declined, but expectations for full self-driving and robotaxi are rising. The company guided aggressive Cybercab production targets of 125k-50k units per year, which, once deployed, could unlock robotaxi value and trigger a significant re-rating.
Up Next
This 3PRO TV (삼프로TV) video, published July 31, 2026, features Seo Young-jae discussing SOX, KS, M7, META, TSLA. 4 trade ideas extracted by AI with direction and confidence scoring.