Over the past few years, capital markets have been infatuated with the "future." Whether it’s AI, robotics, autonomous driving, or commercial space exploration, anything tied to a new technological revolution—even without a mature profit model—has had the chance to command lofty valuations. Investors were willing to pay for future growth, and the market gradually developed a pricing system centered on "expectations" and "narratives."
However, after 2026, a clear shift began to emerge. The market is no longer satisfied with companies merely possessing hot concepts. Instead, it’s starting to reevaluate: Do these companies hold key technologies? Do they have stable order flows? Can they truly convert growth into profits? These questions are becoming the new core of valuation.
Recent market performance has perfectly illustrated this shift. SK Hynix’s market cap surpassed Samsung Electronics for the first time, Micron has continued to rally on the back of surging AI storage demand, and some once-celebrated tech stars have adjusted downward under the pressure to deliver profits. Capital markets seem to be revisiting an old question: What kind of company truly deserves a long-term premium valuation?
SK Hynix Surpasses Samsung: Who Holds the Keys to the Value Chain in the AI Era?
One of the most watched events in Korea’s capital markets recently has been SK Hynix’s market cap overtaking Samsung Electronics. This isn’t just a reshuffling between two Korean tech giants—it signals a redistribution of the industry value chain in the AI era.
In the past, discussions around AI typically focused on GPUs, large models, and application software. But as AI models have grown in scale, the importance of storage has risen sharply. AI chips must process massive amounts of data in extremely short timeframes, and high-bandwidth memory (HBM) is the critical infrastructure that ensures this process runs smoothly. Without high-performance storage, even the most powerful AI chips can’t reach their full potential.
SK Hynix has established a leading position in this sector. As global AI data center construction accelerates and HBM demand continues to climb, the market is awarding this storage giant higher valuations. Investors are increasingly recognizing that winners in the AI era aren’t limited to those developing AI applications. Companies controlling key infrastructure and core segments of the value chain also have enormous growth potential.
That’s why the Korean market is attracting renewed attention. Rather than chasing concepts alone, more investors are digging into the real value of the industry chain. Companies with core technologies and strong industry barriers are gaining greater recognition.
Micron Hits New Highs: Why Are Chip Companies Still Market Favorites?
If SK Hynix represents the rise of HBM storage, Micron’s sustained rally reflects the ongoing strength of AI infrastructure investment. Over the past year, the spotlight has been on AI applications—large models, AI assistants, and a wave of smart apps. Yet as the industry evolves, the market is realizing that the most stable beneficiaries are often the companies providing foundational infrastructure.
Whether it’s GPUs, storage chips, servers, or data centers, all are indispensable links in the AI value chain. As enterprises ramp up AI investments and expand data center construction, demand for high-performance storage is growing rapidly. Micron has benefited from this trend, with its earnings outlook and market performance drawing investor attention.
History shows that every technological revolution produces two types of winners: those creating new applications and consumption scenarios, and those supplying the infrastructure for the entire industry. The market’s sustained focus on chipmakers is a reflection of this investment logic.
Investors are no longer just chasing the hottest concepts—they’re seeking core companies that can reap long-term rewards from industry growth.
Star Companies Can Fall Behind: The Market Is Rethinking High Valuations
As the market redefines value, not every hot company will continue to rise. Previously, investors accepted the "invest first, profit later" model—so long as a company had a big enough market and a compelling growth story, it could secure a high valuation. But as AI investment scales up, the market is paying closer attention to a practical question: When will companies turn their investments into real profits?
As a result, we’re seeing clear market differentiation. Firms with stable orders and strong profitability continue to attract capital, while those with leading technology but uncertain profit realization are facing valuation pressure.
This shift doesn’t mean the market has lost interest in innovation. On the contrary, investors remain optimistic about AI, robotics, and future industries. However, they’re placing greater emphasis on business models, profitability, and long-term competitive advantages.
In other words, the market is moving from "storytelling" to "delivering results."
And truly outstanding companies often stand out amid these changes.
Hong Kong IPOs Heat Up: Why Are New Economy Firms Choosing Hong Kong?
Compared to Korea and the US, Hong Kong stocks are showing a different kind of vitality. While the Hang Seng Index has entered a volatile phase, the IPO market remains red-hot. Recently, many companies have launched plans to list in Hong Kong, spanning AI, chip design, smart manufacturing, and consumer technology.
More and more companies are choosing Hong Kong not just for fundraising. For new economy firms, Hong Kong connects both international and Asian capital markets, offering a mature financing system and a global investor base. As AI and advanced manufacturing surge ahead, Hong Kong is reclaiming its role as a key financing platform for innovative businesses. More importantly, the industry structure of the Hong Kong market is changing. In the past, finance, real estate, and large internet platforms dominated the core. Now, AI, chips, robotics, innovative healthcare, and consumer tech companies are becoming new growth drivers.
The IPO boom reflects the capital market’s renewed focus on future industry directions. For investors, tracking which companies are listing in Hong Kong is often more meaningful than watching index movements, because these firms may represent new growth opportunities in the coming years.
Gate Stock Trading: Round-the-Clock Access to Global Hot Companies
As market hotspots shift, investors are watching an increasingly diverse array of markets.
In Korea, SK Hynix and Samsung Electronics lead the semiconductor sector. In the US, Micron, NVIDIA, Apple, and Tesla are among the most popular tech stocks. Hong Kong continues to attract listings from AI, chip, and new economy firms. As market rhythms change, more investors are looking for flexible trading across different times and markets.
Recently, Gate Stock Trading has further upgraded its trading experience. In addition to pre-market, regular, and after-hours trading, it now offers overnight and weekend trading sessions, supporting 24/7 trading for US, Hong Kong, and Korean stocks. No matter your time zone, you can stay on top of market trends and seize trading opportunities across regions.
Gate Stock also supports trading with USDT, eliminating the need for complex currency exchanges. One account lets you invest in popular stocks across multiple markets. The initial launch includes 197 stock options: 179 US stocks, 15 Hong Kong stocks, and 3 Korean stocks, with plans to further expand the trading universe.
Gate Stock: 24/7 Hot Trading Picks
| Market | Hot Stocks | Stock Code | Investment Theme |
|---|---|---|---|
| US | Apple | AAPL | Consumer electronics ecosystem |
| US | NVIDIA | NVDA | AI chips |
| US | Tesla | TSLA | Smart vehicles |
| US | Meta | META | AI + Social |
| HK | Tencent Holdings | 00700 | Internet leader |
| HK | Xiaomi Group | 01810 | AI + Smart devices |
| HK | Meituan | 03690 | Local services |
| KR | Samsung Electronics | 005930 | Semiconductors |
| KR | SK Hynix | 000660 | HBM, AI storage |
| KR | Hyundai Motor | 005380 | Smart vehicles |
For investors, market opportunities are becoming increasingly global, and round-the-clock trading makes asset allocation more flexible. As the market begins to reward companies with core technologies, stable profitability, and long-term growth prospects, finding the right investment tools is just as crucial.
FAQs
Why has SK Hynix attracted so much market attention recently?
The main reason is the rapid growth in demand for HBM memory chips. SK Hynix holds a leading position in AI storage and benefits from global AI infrastructure expansion.
Why does Micron continue to perform strongly?
AI data center construction is driving up storage demand, and the market remains optimistic about Micron’s future earnings.
Why is Hong Kong’s IPO market still hot?
AI, chip, and smart manufacturing firms continue to list in Hong Kong, and the city’s capital market is increasingly attractive to new economy companies.
Does Gate Stock support trading in Korean stocks?
Yes. Users can trade Korean stocks through Gate Stock and follow hot companies like SK Hynix and Samsung Electronics.
What kinds of companies are the market focusing on now?
Companies with industry competitiveness, genuine profitability, and long-term growth potential are becoming the main focus for investors.
