Memory Chip Stocks Fall This Week as KOSPI Retreats; Wall Street Still Eyes Supply Shortage Through 2028

According to market analysts including Evercore and Morgan Stanley, memory semiconductor stocks fell sharply on July 24 (local time), reversing most gains from the previous week. Despite the price decline, Wall Street experts maintain a bullish long-term outlook. Evercore's Amit Daryanani told CNBC that memory supply-demand imbalances will intensify next year and spread across the broader semiconductor ecosystem, driven by a shift in AI development from training to inference workloads. Morgan Stanley analyst Joseph Moore expects memory shortages to deepen in 2027 and 2028, with third-quarter memory prices rising at least 25% from the prior quarter.

In South Korea, the KOSPI index's sharp pullback from 10,000 to 7,000 has shifted investor sentiment from FOMO (fear of missing out) to JOMO (joy of missing out), with online investment communities noting "not buying Samsung Electronics and SK Hynix was the right call." Analysts attribute the decline to foreign investors' profit-taking and concerns over AI investment slowdown and potential peak-out of semiconductor gains.