المنشور

The selling pressure on memory stocks this round is very typical: the industry logic hasn't broken, but the holding sentiment has deteriorated first. AI's demand for HBM, DRAM, and storage still exists, and supply hasn't suddenly loosened. However, Korean and US storage chain stocks surged too much earlier, and investors have already taken "AI servers continuing to lack memory" as the default answer. Now, as long as a company's guidance isn't blown out of the sky, the market starts to sell off. This is not simply bearish on storage, but a deleveraging of leveraged positions. I think whether Korean stocks can reverse depends not only on the fundamentals of SK Hynix and Samsung but also on two small things: whether retail margin financing has been cleared, and whether foreign capital is willing to revalue. No matter how good the fundamentals are, if the market is full of people eager to get their money back, the rebound will be very tiring. AI storage is a good story, but even a good story fears overcrowding. #AIMemoryBullTest #FedHawksVsWeakJobs #SpaceXUnlockRebound