Goldman stays bullish on Korean stocks – sees 80% upside from here 📈
Key thesis:
• AI demand cycle lasting longer than expected
• Memory chip boom accelerating
• KOSPI target: 12,000 (maintained)
Earnings explosion incoming:
• KOSPI companies expected to grow profits ~360% this year
• Trading at just 7.5x forward P/E
Context: Korean market = heavy exposure to $NVDA supply chain (Samsung, SK Hynix memory). If AI capex stays hot, Korea prints. Goldman betting on sustained HBM demand + margin expansion.
Risk: China slowdown, memory oversupply fears. But at 7.5x P/E, a lot of bad news already priced in.
Key thesis:
• AI demand cycle lasting longer than expected
• Memory chip boom accelerating
• KOSPI target: 12,000 (maintained)
Earnings explosion incoming:
• KOSPI companies expected to grow profits ~360% this year
• Trading at just 7.5x forward P/E
Context: Korean market = heavy exposure to $NVDA supply chain (Samsung, SK Hynix memory). If AI capex stays hot, Korea prints. Goldman betting on sustained HBM demand + margin expansion.
Risk: China slowdown, memory oversupply fears. But at 7.5x P/E, a lot of bad news already priced in.
