Name: AI-Created Historic Shortage, Who's the Next Star of the Semiconductor Rally? | Kim Jang-yeol, Unistory Asset Management Division Head [Today's Featured Stock]
Uploaded: 2026-05-29T11:30:03+00:00
Duration: 2366 s

Speakers

Kim Jang-yeol — Reporter, The Bell

Summary

Kim Jang-yeol, head of Unistory Asset Management, argues that the AI-driven memory shortage is historic and will sustain a multi-year semiconductor upcycle. He provides specific trade ideas including KOSPI 9500, Samsung Electronics, SK Hynix, Micron, Samsung preferred shares, Hyundai Motor, Hyundai Mobis, and Daeduck Electronics, each with differentiated reasoning.

Expects KOSPI to reach 9,500 by summer 2025, led by Samsung and Hynix.
Believes memory supply is historically tight and AI demand will keep the cycle going until at least 2028.
Recommends Samsung Electronics and SK Hynix as core longs with 20–25% upside.
Sees Micron as having 30% upside; analyst targets of $1,200–$1,600 are plausible.
Highlights Samsung preferred shares trading at a record discount to common; expects gap to narrow.
Favors Hyundai Mobis over Hyundai Motor due to relative valuation discount.
Points to Daeduck Electronics as a cheaper alternative to Samsung Electro-Mechanics in the PCB space.
Explains the three key drivers of memory demand: inference, agentization, and context window length.

Trade Ideas

Kim Jang-yeol Reporter, The Bell 1:49

KOSPI 9500 achievable by summer.

The KOSPI can reach 9,500 by summer 2025, driven by a 25% rally in Samsung Electronics and SK Hynix alone, supported by a stable macro environment and a ceasefire in Ukraine. Other sectors can contribute if the two heavyweights fall slightly short. The market has strong momentum and money flow, making the target achievable.

Kim Jang-yeol Reporter, The Bell 5:30

Hyundai Motor and Mobis both long.

Hyundai Motor has near-term upside to 1 million won driven by margin improvements in the US; current price around 700,000–750,000 is still attractive. Hyundai Mobis is even more compelling: historically, when Hyundai Motor is at 100, Mobis trades at 50–60% of that, but now it's only 40%. The relative discount should mean-revert, making Mobis the better play.

Kim Jang-yeol Reporter, The Bell 7:33

Daeduck Electronics is cheaper than Samsung Electro-Mechanics.

Daeduck Electronics trades at ~30x forward P/E, less than half the valuation of Samsung Electro-Mechanics (~70x). As the semiconductor upturn broadens, the valuation gap should shrink, making Daeduck a cheaper way to play the same AI/PCB theme.

Kim Jang-yeol Reporter, The Bell 9:31

Samsung preferred discount likely to narrow.

Samsung Electronics preferred shares (005935.KS) trade at a 36.5% discount to common shares, far wider than the 10-year average of 16.5%. Catalysts to narrow the gap include Samsung's common-share buyback (which includes preferred), the launch of a 2x semiconductor ETF that buys only common shares (creating artificial scarcity of preferred), and potential extended trading hours that benefit preferred. Foreign investors have already accumulated preferred shares.

Kim Jang-yeol Reporter, The Bell 15:50

Samsung and Hynix have 20-25% upside.

Samsung Electronics and SK Hynix are undervalued and will benefit from an unprecedented AI-driven memory shortage. Samsung's HBM4E development is a positive catalyst; SK Hynix is the current leader. As Micron re-rates, Korean memory stocks will follow, with 20–25% upside from current levels. Accumulate Samsung below 320,000 won and Hynix below 240,000 won.

Kim Jang-yeol Reporter, The Bell 30:03

Micron has 30% upside from here.

Micron is at the center of a historic memory supply shortage. AI inference, agentization, and context-window growth are driving demand far beyond current capacity. The company's CBO confirmed the shortage. Analyst targets (UBS $1,600, Barclays $1,200) imply 30%+ upside from the current ~$970. The cycle is multi-year, not short-term.

AI-Created Historic Shortage, Who's the Next Star of the Semiconductor Rally?

Summary

Trade Ideas

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