KOSPI Sells off 10% in Korea; Tech/Chip Sell-off Today Represents Opportunity

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KOSPI Sells off 10% in Korea; Tech/Chip Sell-off Today Represents Opportunity

Industry Note

June 23, 2026 Disruptive Technology

KOSPI Sells off 10% in Korea; Tech/Chip Sell-off TodayAnalysts

Dan Ives Represents Opportunity

(212) 344-2073

Dan.Ives@wedbush.com

Steven Wahrhaftig A day after SK Hynik overtook Samsung as South Korea's most valuable listed(212) 931-7059

steven.wahrhaftig@wedbush.com company and the KOSPI hit its historic 9K record late last week, today the tech heavy

Sam Brandeis index is down ~10% triggering circuit breakers during the trading day. Clearly this

(212) 222-3005 will cause selling pressure and white knuckles for tech stocks in the US this morning

sam.brandeis@wedbush.com as investors worry the overheated KOSPI sell-off has a spillover impact to US tech

Anish Jog stocks. We note with the KOSPI up roughly 90% YTD, this has been the foundation

(917) 747-3095 of the AI boom with memory stocks like SK Hynik, Micron, and Samsung the goldenanish.jog@wedbush.com

jewels of this demand driven AI Revolution rally seen over the past 18 months inMatthew Ricapito

(929) 259-2049 South Korea.

matthew.ricapito@wedbush.com

With Micron set to report earnings this Wed there is some added nervousness on

the important memory chip trade and along with technical triggers is adding to

some nervousness among tech investors. Taking a step back the degree of the sell-

off in tech stalwart Alphabet yesterday was surprising to the market and caught

steam after the news that DeepMind researcher and Nobel AI Scientist John Jumper

left and went to Anthropic. To this point, this is an AI Arms Race and we will continue

to see a plucking of talent across Silicon Valley over the coming years with Anthropic

on offense mode.