蜡币小鑫
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A few days ago, everyone was rushing to escape, and today they are rushing to buy.
Korean stocks surged 17.9% in one day, Samsung rose 28%, and Hynix rose 30%.
The market suddenly realized one thing: the money spent on AI, as long as it can turn into profit, is not a bubble.
But a one-day surge does not mean the risk has disappeared. A real bull market depends on orders, profits, and continuous capital inflows, not just a one-day emotional reversal. #韩股KOSPI盘中飙升14%，创历史最大单日涨幅 #“AI股神”基金清仓，美光单日涨超15% #日韩同日抛售美元护汇
U.S. stocks collectively rebounded tonight, and the storage sector finally recovered!
$MU Micron, $SNDK SanDisk, $SKHY Hynix, $WDC Western Digital, and $STX Seagate all surged together, and semiconductor leaders $NVDA and $AMD also started to warm up.
This round of storage stocks has fallen sharply from their highs, with many dropping 30%–50%, and leveraged products have buried a bunch of people directly. After falling so much and killing so many, it’s about time for a decent rebound, right?
But be careful: for now, this is defined as an "oversold rebound" and a reversal cannot yet be confirmed. The key going forward is to see if volume can continue to increase and if prices can hold key levels.
#美股 #存储芯片 #MU #SNDK #SKHY #WDC #STX #半导体 #美联储三票主张加息，今晚PCE成新看点 #微软逆势下调资本开支，盘后涨8.5% #财报观察员：微软云收入破千亿，Meta却指引拉胯——AI故事分化了？
The South Korean stock market has faced sell-offs for the third consecutive day, with the KOSPI closing down 1.2% today at 5,593.56 points; after plunging 10.8% and nearly 6% in the previous two days, the cumulative decline over three days has approached 18%.
Ironically, today two chip giants just released nearly "off-the-charts" earnings reports:
Samsung Electronics posted an operating profit of about 89.5 trillion KRW in Q2, a year-on-year increase of more than 19 times. Its stock price initially rose 2.4% in early trading but ultimately fell 0.7%.
SK Hynix's quarterly operating profit grew nearly sixfold, but after a sharp drop of over 9% yesterday, its stock price fell another 5.6% today.
This indicates that the market is currently trading not based on "whether the earnings are good or not," but rather on:
How long the high demand for AI and memory chips can continue;
Whether massive capacity expansions will lead to the next round of overcapacity;
Whether the rise of Chinese manufacturers will drive down memory prices and profit margins;
When the high valuation and high leverage trades will be fully cleared.
A few months ago, earnings beating expectations meant a rush of capital; now, even record profits may see stock prices surge and then retreat.
How outrageous is Samsung's earnings report?
Operating profit in Q2 was about 89.5 trillion KRW, a year-on-year surge of over 19 times, almost entirely fueled by AI, HBM, and storage price hikes.
And the result?
The stock price fell as expected.
The market used to be:
Earnings beat expectations → funds immediately rush in.
Now the market is:
Earnings beat expectations → first see if it can get even better;
Growth not fast enough → price drops;
Capital expenditure too high → price drops;
Future guidance slightly conservative → still price drops.
Funds are not worried that Samsung can't make money now, but about how long storage price hikes can last, whether crazy capacity expansion will cause oversupply, and whether Chinese manufacturers will start to grab profits.
The market no longer pays for "good earnings reports" but votes on "whether the future can continue to be good."
This may be the most dangerous recent change in global tech stocks. #美联储三票主张加息，今晚PCE成新看点 #微软逆势下调资本开支，盘后涨8.5% #SpaceX获$1.6B美军合同，股价暴跌引两派争议
The Korean stock market pulled back somewhat at the close, but the truly dangerous signals have not changed.
The KOSPI fell more than 8% intraday, ultimately closing down 6%; SK Hynix posted record profits, yet its stock price fell 9.4%, Samsung dropped 4.8%.
A few months ago, earnings beating expectations caused a rally; now, ordinary performance leads to declines, and even very good results that don't exceed the most optimistic expectations also cause drops. The market is not punishing current profits, but rather excessive valuations and an overdrawn future.
