Expert Sung Ha-jun Presents NVIDIA Earnings and Market Outlook

The main reason many experts find it difficult to conduct morning broadcasts is the immense effort required to analyze the vast amount of data from the U.S. market. It is challenging to review and analyze the enormous volume of information, foreign news reports, and individual stock reports that flood in from domestic and international markets overnight.

NVIDIA's earnings announcement served as a key market factor, refuting AI peak-out (reaching a peak) concerns with numbers. Expert Sung Ha-jun explained, “NVIDIA's first earnings announcement refuted AI peak-out concerns with numbers.” NVIDIA's solid earnings and future guidance indicated that overall AI-related investments in the market would expand beyond HBM (High Bandwidth Memory) to power, data centers, and infrastructure.

Yesterday, the U.S. stock market saw AI-related stocks strengthen on the back of NVIDIA's earnings announcement, but major indices such as Nasdaq, S&P, and Dow did not all rise uniformly. Expert Sung Ha-jun commented, “What was the U.S. stock market yesterday? It wasn't that everything got better; it was just a day when AI-related stocks slightly lifted their heads due to NVIDIA's earnings alone.” This shows that differentiation among individual stocks is intensifying even within the semiconductor industry.

NVIDIA's earnings announcement provided important investment hints to the market. Expert Sung Ha-jun emphasized, “The hint NVIDIA's earnings announcement gave us is that from now on, the top sector will, of course, be HBM. But what's the second? Now it's power.” Accordingly, he suggested diversifying investments not only in HBM but also in power equipment, electric wires, ESS (Energy Storage System), and nuclear power-related sectors. LS Electric, Hyosung Heavy Industries, Daehan Cable, Samsung SDI, and Doosan Enerbility were mentioned as promising stocks.

HBM-related stocks tend to have expectations already priced into Samsung Electronics and SK Hynix, which may limit further upside. Expert Sung Ha-jun explained, “The expectations for HBM-related stocks are already reflected to some extent in Samsung Electronics and SK Hynix. But if you look at power equipment, for example, LS Electric, it's still in the bottom phase, now attempting a rebound and on the verge of breaking out of its box range.” He diagnosed that the power equipment sector, on the other hand, is attempting a rebound from its bottom and is about to break out of its box range, potentially showing relatively higher expected returns.

SK Hynix held a groundbreaking ceremony for its advanced HBM packaging plant, worth over $4 billion, in Indiana, USA. This plant will begin cleanroom operations in the second half of 2028, aiming for HBM4 mass production in the third quarter of 2029. Expert Sung Ha-jun stated, “SK Hynix held a groundbreaking ceremony for its advanced HBM packaging plant, worth over $4 billion, in Indiana, USA. It will begin cleanroom operations in the second half of 2028, aiming for HBM4 mass production in the third quarter of 2029.” The SK Hynix CEO predicted that memory shortages would persist until 2030.

SK Hynix's HBM plant expansion is expected to bring significant benefits to the semiconductor materials, components, and equipment (Soo-Boo-Jang) sector, beyond just data center infrastructure. Expert Sung Ha-jun emphasized, “If you look at the top sectors, you must look at packaging-related stocks, tester equipment, and substrates and PCBs. Now, it's imperative to differentiate. It's not that all related stocks are good; you must only secure the 'true' stocks.” He advised investors to select and invest in 'true' stocks, particularly among those related to packaging, test equipment, substrates, and PCBs.

Expert Sung Ha-jun announced that specific price strategies for key stocks like Hanmi Semiconductor and Isu Petasys will be revealed in a VIP broadcast. He said, “I will discuss the price strategies for stocks like Hanmi Semiconductor and Isu Petasys in the VIP broadcast, so please bear with me.” This implies that detailed buy and sell timings are difficult to provide in a general broadcast.

With the Jackson Hole meeting underway, the first speech by Federal Reserve Chairman Kevin Warsh is scheduled for 11 PM KST on Friday. Expert Sung Ha-jun commented, “The Jackson Hole meeting has begun. Tonight at 11 PM, Federal Reserve Chairman Kevin Warsh will give his first Jackson Hole speech. The important thing is that there will be a market-moving speech in the evening, so today's market will not sharply rise.” He predicted that a sharp rise in the market would be limited ahead of the speech, implying increased market volatility.

With the current 10-year Treasury yield at 4.67%, new purchases should be approached from a conservative perspective. Expert Sung Ha-jun advised, “What is the 10-year Treasury yield still, everyone? It's 4.67. Until this comes down to 4.5, you should not actively make new purchases.” He emphasized the need for cautious action through staggered purchases until the interest rate reaches 4.5%.

Fridays typically see strong risk aversion ahead of the weekend, leading to increased selling pressure. Expert Sung Ha-jun explained, “What kind of day is Friday, typically? It's a day when sales come out more to exclude risk ahead of the weekend. If a stock rises sharply early in the market today, what should you do? Sell a portion.” He suggested that considering macro indicator variables like the Jackson Hole meeting speech, a strategy of realizing some profits on stocks that surge early in the market is effective.

If a held stock has surged into profit territory or recovered to its breakeven point, securing cash should be a priority. Expert Sung Ha-jun emphasized, “If a stock you hold surges, sell it. Sell for profit. It's okay even at breakeven. Secure cash. If it's in a slight loss zone, then sell about half of those stocks.” He added that selling about half of stocks in a slight loss zone to increase cash reserves is an important strategy for managing risk in a declining market.

Among the stocks to watch in the current market, SK Telecom, with its strong position in the AI data center market, warrants attention. Expert Sung Ha-jun mentioned, “SK Telecom, I uploaded an article about this, SK Telecom is also a stock that holds a clear advantage in the AI data center market. It might be good to keep an eye on it.” Additionally, he suggested checking if Unitest turns up its tail, and foldable phone-related stocks like FineTech and BH were also presented as sectors to watch.

If you wish to make a new purchase on the same day, a strategy of waiting until just before market close is necessary. Expert Sung Ha-jun advised, “If you want to buy now, I'll ask one thing: buy before market close. When buying before market close, focus on those where foreigners and institutions have invested.” He emphasized that, considering the Jackson Hole meeting risk, it's important to buy primarily stocks with strong inflow from foreign and institutional investors and maintain a conservative strategy of observing the market from a half-step behind.