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Tom Lee: 'Don't Be Afraid of Samsung Electronics' Decline'...Nvidia, Expectations for China H200 Approval

Tom Lee: "Don't be afraid of Samsung Electronics' decline"...Nvidia, expectations for China H200 approval [Wall Street Newsletter]
Watch on YouTube ↗  |  July 08, 2026 at 22:25  |  42:58  |  3PRO TV (삼프로TV)
Speakers
Park Myung-seok — Curator
Tom Lee — Managing Partner & Head of Research, Fundstrat

Summary

Wall Street newsletter curator Park Myung-suk reviews overnight markets, noting a semiconductor rebound led by Nvidia, Broadcom, and Micron, while geopolitical tensions and FOMC minutes pushed rates and oil higher. He relays Tom Lee's view that Samsung Electronics' drop is not a panic event, and highlights attractive valuations in Magnificent Seven stocks, an upgrade for ServiceNow, Rocket Lab's overweight rating, and Alibaba's profitability improvement.

  • Semiconductors bounced sharply as the Philadelphia Semiconductor Index held its 50-day moving average.
  • Nvidia rallied on a report that the US may allow limited H200 chip sales to Chinese tech firms.
  • Broadcom surged after news that Apple will invest $30 billion in the partnership.
  • Micron was highlighted by a research firm with a $1500-1600 target, citing fair current valuation.
  • Tom Lee advised not to fear Samsung Electronics' selloff because hyperscaler capex estimates were raised.
  • Magnificent Seven valuations have compressed to attractive levels with Meta at 18x and Microsoft below 20x.
  • ServiceNow was upgraded to buy as analysts called the software death narrative overblown.
  • Rocket Lab received a Morgan Stanley overweight rating and $105 price target sparking a recovery in space stocks.
  • Alibaba jumped after a positive pre-earnings briefing showed improving profitability and narrowing commerce losses.
Ideas
Park Myung-seok Curator 2:20
Semiconductor index bounced off 50-day support.
The Philadelphia Semiconductor Index bounced strongly after testing its 50-day moving average support. Capital appears to be rotating back into semiconductors as rebalancing out of software/defensives may be ending and geopolitical uncertainty drives investors toward AI infrastructure names. The technical hold signals the worst of the correction may be over.
SOX MED
Park Myung-seok Curator 20:40
Micron could rally to $1600, fairly valued.
A research firm highlights Micron as a key AI play, setting a target of $1500-1600 with earnings expected to peak in FY2028-29. Even on normalized earnings, Micron is fairly valued rather than overpriced, countering Michael Burry's bearish call and suggesting memory semiconductor upside remains intact.
MU MED
Park Myung-seok Curator 22:40
China may allow H200 chip imports.
The Information reported that the US may allow limited H200 chip exports to China for major firms like Alibaba, ByteDance, and DeepSeek, with total purchases under 200k units. This signals possible US recognition that China is falling behind in AI speed and could open a new revenue stream for Nvidia, pushing the stock higher even on just the expectation.
NVDA MED
Park Myung-seok Curator 23:39
Apple's $30B investment into Broadcom.
Apple will invest $30 billion in Broadcom, extending their partnership and expanding US semiconductor manufacturing capacity. This follows earlier reports of the renewed deal and provides a significant long-term revenue commitment that drove Broadcom shares up 4.8%, helping lead the semiconductor rebound.
AVGO MED
Tom Lee Managing Partner & Head of Research, Fundstrat 27:12
Do not fear Samsung Electronics' decline.
Despite the sharp decline in Samsung Electronics, there is no reason to panic. Hyperscaler capex forecasts have been revised upward by Bank of America, which should ease earnings season pressure. The overall investment cycle in AI remains strong, and the selloff presents a buying opportunity rather than a structural problem.
005930.KS MED
Park Myung-seok Curator 29:20
Magnificent Seven valuations now attractive.
Magnificent Seven names have seen significant valuation compression: Amazon, Meta (18x), and Microsoft (19.9x) are near or below 10-year averages, and the premium of M7 over the rest of the S&P 500 has fallen below 20%. This creates attractive entry points for the group, as the AI spending cycle continues and earnings power should re-rate valuations upward.
QQQ MED
Park Myung-seok Curator 35:01
ServiceNow upgraded, software fears overdone.
ServiceNow was upgraded to buy, and Jefferies argued that fears of software being 'dead' were overblown. While the market previously favored hardware due to geopolitical certainty and strong earnings, the extreme pessimism on software is reversing, suggesting a balanced hardware-software approach in H2 and making ServiceNow a compelling recovery play.
NOW MED
Park Myung-seok Curator 35:33
Alibaba profitability improving, narrowing commerce losses.
Alibaba held a pre-earnings briefing revealing narrowing losses in the commerce segment and improving overall profitability. This pushed the stock sharply higher and provides a positive signal that Chinese AI-related firms can begin monetizing, boosting confidence in hyperscaler earnings potential and signaling a recovery in Alibaba's own operations.
BABA MED
Park Myung-seok Curator 37:08
Rocket Lab target $105, Morgan Stanley overweight.
With Rocket Lab shares down from highs to around $80, Morgan Stanley reiterated an overweight rating and raised the price target to $105. This, alongside Blue Origin raising $10B, signals that space stocks are finding a floor and the selloff in space-related names may be overdone, presenting a recovery play.
RKLB MED
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This 3PRO TV (삼프로TV) video, published July 08, 2026, features Park Myung-seok, Tom Lee discussing SOX, MU, NVDA, AVGO, 005930.KS, QQQ, NOW, BABA, RKLB. 9 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Park Myung-seok, Tom Lee  · Tickers: SOX, MU, NVDA, AVGO, 005930.KS, QQQ, NOW, BABA, RKLB