KOSPI to hit fresh record highs in next 6-12 months: Wall Street analyst
The KOSPI will likely hit fresh all-time highs over the next six to 12 months, as Korean stocks have been oversold amid broader investor concerns about artificial intelligence (AI), veteran Wall Street analyst Dan Ives said Wednesday. "Memory is the heart and lungs of the AI revolution," Ives, a partner and senior managing director at Yorkville Ives, said during a press conference in Seoul. "It…
Korean stocks, particularly those in the memory chip sector, are poised to reach new all-time highs over the next six to 12 months, according to veteran Wall Street analyst Dan Ives. Ives, a partner and senior managing director at Yorkville Ives, believes that the current oversold market conditions, driven by foreign investor sell-offs and concerns about the AI revolution, present an opportunity for investors to capitalize on undervalued stocks.
Samsung Electronics and SK hynix, two major players in the memory chip industry, have been particularly affected, with foreign investors netting out a substantial amount of shares in these companies. Despite the current market conditions, Ives remains confident in the long-term potential of Korean stocks, noting a significant disconnect between the companies' fundamentals and their share prices.
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