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, Dan Ives said Wednesday in Seoul. Ives said foreign selling of Samsung Electronics and SK hynix shares is nearing an end, while Korean stocks remain oversold amid AI concerns. He identified SK hynix as his top technology stock pick and expects Korea’s technology industry to expand beyond memory chips into AI models, software, infrastructure and energy.

Foreign investors were net sellers of 199.1 trillion won ($148.9 billion) in KOSPI-listed shares this year through Monday, with Samsung Electronics and SK hynix accounting for 173.2 trillion won, or 87 percent, of the total.

Ives said the memory chip market is not expected to reach equilibrium until early 2029.

Ives said Korea is at least three years ahead of China technologically in memory chips and called concerns about Chinese producers such as CXMT a fictional narrative.

Ives predicted that the Nasdaq could reach 30,000 and eventually 35,000, while saying major technology companies hold a combined $1 trillion on their balance sheets and generate $300 billion to $400 billion annually.

For 2027, Ives named Nvidia, Microsoft, Palantir, Apple and CrowdStrike as his top five technology stock picks, with price targets of $300, $615, $250, $400 and $335, respectively.

Published Oct 14, 2026 3:12 pm KST

Ives dismisses AI bubble concerns, says revolution is 'less than 15%' complete

Dan Ives, a partner and senior managing director at Yorkville Ives, speaks during a press conference at Conrad Seoul, Wednesday. Courtesy of Yorkville Ives

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 just creates an opportunity to own these stocks when irrationality hits the market, which I think is what's happening right now here in Korea."

Ives, who has 25 years of experience as a Wall Street technology analyst, said the foreign investor sell-off in shares of Samsung Electronics and SK hynix is nearing an end.

Foreign investors were net sellers of 199.1 trillion won ($148.9 billion) worth of KOSPI-listed shares this year through Monday, with Samsung Electronics and SK hynix accounting for 173.2 trillion won, or 87 percent of the total, according to the Korea Exchange.

He said there is a significant disconnect between the companies' fundamentals and their share prices, as the memory chip market is not expected to reach equilibrium until early 2029. SK hynix remains his top technology stock pick this year.

Addressing concerns over capacity expansion by Chinese memory chipmakers, including CXMT, Ives dismissed the threat as a "fictional narrative," arguing that Korea is at least three years ahead of China technologically.

"I'm not saying that China can't narrow the gap and they'll ultimately come up with competitive solutions but these worries about China being some sort of negative trojan horse for Korean memory is way overdone," he added.

Ives expressed strong optimism over technology stocks, saying the AI revolution is "less than 15 percent" complete. He predicted that the Nasdaq could reach 30,000 and eventually 35,000, dismissing concerns about an AI bubble.

"In 1999, the average tech stock was trading at 30 times revenues ... all venture funded with business models that were in PowerPoint presentations and didn't have true use cases," Ives said.

By comparison, he said, tech stocks today trade at 23 times earnings. Major technology companies have a combined $1 trillion on their balance sheets, generate $300 billion to $400 billion annually, and are seeing AI use cases multiply rapidly.

Ives also downplayed concerns over potential AI regulation. He said the industry would likely rely more on self-regulation, warning that excessive government regulation could benefit China at the expense of the U.S.

Looking ahead to 2027, Ives identified Nvidia, Microsoft, Palantir, Apple and CrowdStrike as his top five technology stock picks, with price targets of $300, $615, $250, $400 and $335, respectively, implying upside potential ranging from 17 percent to 32 percent.

Turning back to Korea, Ives said the country's contributions to the AI revolution had long been underappreciated. He expects Korea's technology industry to expand beyond memory chips into AI models, software, infrastructure and energy over the next decade. He spoke positively about Hyundai Motor and Hanwha.

"The Korean market today reminds me of Silicon Valley in the mid-1990s," he said, describing Korea as "a new frontier for technology globally."

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韩国科技股专家丹·艾夫斯周三在首尔表示，韩国综合股价指数（KOSPI）未来6至12个月有望创下历史新高。艾夫斯指出，外国投资者抛售三星电子和SK海力士股票的行情已接近尾声，而受人工智能领域担忧的影响，韩国股市仍处于超卖状态。他将SK海力士列为首选科技股，并预计韩国科技产业将从存储芯片领域拓展至人工智能模型、软件、基础设施和能源等领域。

截至周一，今年外国投资者在韩国综合股价指数（KOSPI）上市股票中净卖出199.1万亿韩元（1489亿美元），其中三星电子和SK海力士占173.2万亿韩元，即总额的87%。

艾夫斯表示，内存芯片市场预计要到 2029 年初才能达到平衡。

艾夫斯表示，韩国在存储芯片技术上至少领先中国三年，并称对CXMT等中国生产商的担忧是虚构的故事。

艾夫斯预测纳斯达克指数可能达到 30,000 点，最终达到 35,000 点，同时表示主要科技公司资产负债表上的总资产达 1 万亿美元，每年创造 3000 亿至 4000 亿美元的收入。

艾夫斯将英伟达、微软、Palantir、苹果和 CrowdStrike 列为 2027 年五大科技股首选，目标价分别为 300 美元、615 美元、250 美元、400 美元和 335 美元。

发布于2026年10月14日下午3:12（韩国标准时间）

艾夫斯驳斥了人工智能泡沫的担忧，称这场革命“完成度不到15%”。

约克维尔·艾夫斯律师事务所合伙人兼高级董事总经理丹·艾夫斯周三在首尔康莱德酒店举行的新闻发布会上发表讲话。图片由约克维尔·艾夫斯律师事务所提供。

华尔街资深分析师丹·艾夫斯周三表示，由于投资者对人工智能（AI）的普遍担忧，韩国股市已被超卖，未来6到12个月内，韩国综合股价指数（KOSPI）可能会创下历史新高。

“内存是人工智能革命的心脏和肺，”约克维尔艾夫斯公司合伙人兼高级董事总经理艾夫斯在首尔举行的新闻发布会上表示。“当市场出现非理性行为时，这便创造了持有这些股票的机会，我认为这正是目前韩国正在发生的事情。”

拥有 25 年华尔街科技分析师经验的艾夫斯表示，外国投资者抛售三星电子和 SK 海力士股票的行情即将结束。

据韩国交易所数据显示，截至周一，今年外国投资者净卖出韩国综合股价指数（KOSPI）上市股票199.1万亿韩元（1489亿美元），其中三星电子和SK海力士的净卖出额为173.2万亿韩元，占总额的87%。

他表示，这些公司的基本面与其股价之间存在显著脱节，因为存储芯片市场预计要到2029年初才能达到平衡。SK海力士仍然是他今年最看好的科技股。

针对包括CXMT在内的中国存储芯片制造商产能扩张的担忧，艾夫斯驳斥了这种威胁，称其为“虚构的故事”，并指出韩国在技术上至少领先中国三年。

“我不是说中国不能缩小差距，他们最终会提出有竞争力的解决方案，但这种担心中国会成为韩国记忆中某种负面特洛伊木马的说法太过分了，”他补充道。

艾夫斯对科技股表现出极大的乐观态度，称人工智能革命的完成度“还不到15%”。他预测纳斯达克指数可能达到3万点，最终甚至可能达到3.5万点，并驳斥了有关人工智能泡沫的担忧。

“1999 年，科技股的平均交易价格是营收的 30 倍……所有这些公司都获得了风险投资，其商业模式都只是 PowerPoint 演示文稿，并没有真正的应用案例，”艾夫斯说。

他表示，相比之下，如今科技股的市盈率约为23倍。大型科技公司资产负债表上的总资产达1万亿美元，年收入达3000亿至4000亿美元，并且人工智能的应用案例正在迅速增长。

艾夫斯还淡化了人们对人工智能监管的担忧。他表示，该行业可能会更多地依赖自我监管，并警告说，过度的政府监管可能会使中国受益，而损害美国的利益。

展望 2027 年，艾夫斯将英伟达、微软、Palantir、苹果和 CrowdStrike 列为他最看好的五家科技股公司，目标价分别为 300 美元、615 美元、250 美元、400 美元和 335 美元，这意味着上涨潜力在 17% 到 32% 之间。

谈到韩国，艾夫斯表示，该国对人工智能革命的贡献长期以来被低估了。他预计，未来十年韩国科技产业将不再局限于存储芯片，而是扩展到人工智能模型、软件、基础设施和能源等领域。他对现代汽车和韩华集团给予了积极评价。

“如今的韩国市场让我想起了上世纪90年代中期的硅谷，”他说道，并将韩国描述为“全球科技的新前沿”。

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国际货币基金组织将韩国经济增长预期上调至3.3%，原因是芯片出口带来的增长超过了战争的影响。

受芯片出口热潮提振，韩元兑日元汇率创18年新高