Greetings, viewers of the stock market angle TV. Hello, investors. Hello, viewers. Hello, financial warriors. Nice to meet you all. It's Tuesday, June 11th, and the morning has dawned. Today's market, a word - the market recognized the consumption of Apple products. Yes, today's market, a word - if you watch yesterday morning's broadcast and yesterday morning's Union Infomax angle column, it may be helpful. Almost a real market for Apple by Apple, through the unknown flow, it seems to be a market for Apple. It would be good to check once what kind of trend it is. It shows almost overwhelming trends. Apple, I think it has never risen this much. Apple, not just rising in one day, but a 3 trillion market company increased by 7%. Simply put, this doesn't make sense. But such situations happened, and the market's interpretation.

The interpretation of the market has changed significantly, and many bank stocks have fallen. Local banks are still not doing well. Ultimately, if problems arise, the probability of them occurring here is high. In the U.S., commercial banks are not doing well, especially in commercial real estate. That's why it's really not good. Therefore, there is a constant pressure on the banking side, and that's why people like J.P. Morgan and Jamie Dimon are saying that if a crisis occurs, interest rates could rise significantly. This kind of talk is based on poor data. From their perspective, the data in the U.S. is divided into two. The market led by tech stocks is creating a new market, so it's going in a different direction, which is very exciting. However, the traditional market is challenging, and now facing pressure due to rising interest rates and regulatory constraints.

Continuing, the comparison with the beginning of the year hasn't been thoroughly checked yet, but it's likely to be very similar to the beginning of the year. Russell, last time there was no significant difference compared to the beginning of the year, and since it dropped again today, there probably won't be much difference. Russell 2000, so small and medium-sized companies, that's right. If you look at today, the top-performing stocks that drove the market up were Microsoft, Google, Meta, and Apple. Yesterday, as I mentioned, because Apple is working with Apple Silicon, the traditional infrastructure, well, they are now making new silicon. Broadcom is now making new silicon and their devices were good. I mentioned this before. Today, there's something interesting again. If you look at the market today, what went up? It's hardware stocks like Microsoft, Apple, Google, Meta, and Amazon.

All these are Broadcom hardware stocks, right? Only Broadcom hardware stocks, while the rest are all software stocks. It's quite funny to call them software stocks. Oh, there are service companies as well. This part is now very important in today's market, after the infrastructure. It's a day that throws out the meaning of thinking now. Because it's a day that shows such signals, it doesn't mean this story continues from tomorrow. From that perspective, in terms of implying complexity, today's market seems very important. In 2000, when we tightly installed the infrastructure, which company was good? In Korea, KT and Daum were very good. In the U.S., which one was good? I can't remember. Oh, the browser. The company that made routers, up to 5 trillion dollars.

It went up. It's not 500 billion dollars now. Even though the stock prices have risen a lot now, those companies were in chaos. They were in chaos. But who made money after that? Who? Who made money? From then on, players will make money. Infrastructure, grounds, stadiums, China and Korea, they won against China, right? China, yeah, they did. The Chinese players, the players, I don't know, maybe because they only watch the highlights, it seemed a bit messy, right? But they won. But they should have won by 3-0, not just 1-0. Yes, thank you. Cisco, indeed, amazing. Cisco Systems went up to 500 billion dollars, then dropped to less than 100 billion dollars, now it has risen a bit more, but still hasn't recovered the 500 billion dollars, right? Yes, that's right. Well, after the era of infrastructure passes.

After building a stadium, the company that builds the next stadium does not make money, but the players who enter and play there make money, right? When star players come out, they start making money. Who are those star players? They are the companies that rose today on Biz Dotcom, like Apple. Apple emerged. With that infrastructure, the internet infrastructure was established, and with the creation of the iPod, Apple first emerged. Whenever the iPod was created, Apple appeared and opened up a new world. Then, with the internet being laid down, Google emerged. Apple emerged, then Meta emerged, and Microsoft originally did it, but they continued to maintain their position. Amazon also emerged as online sales were created. These companies emerged after the year 2000, following the innovation and infrastructure of IT.

Emerging companies have now become the leading companies in the United States. Previously, for example, companies like Walmart, P&G, and such were much larger. Banks were naturally bigger than those companies, and those companies were bigger. But things have changed. Now, once the AI infrastructure is established, discussions about who the next AI players will be will begin. Of course, because they know all the content, AI-related companies will make great efforts to become the players. Whether it's OpenAI or others, they will all do the same. Even the media will make efforts to become players. Clearly, that's why they talk about AI related to medical fields. They know how the market will transition in the future, so that's why. Anyway, there is another infrastructure, the retail infrastructure.

Simply put, Google and Apple are the ones who have created the infrastructure for players to play. Apple uses that and just plays there. Their own stadium is too wide, so those who have their own gym will play there. This is now reflected in the market today. Today, we have shown a lot of how these things will be played. Next, if I talk a little more about Apple today, from the perspective of investors, why did Warren Buffett invest in Apple? We are not a very big channel yet, and our viewers are limited, so I will give you some real expertise. Buffett's real expertise is that he invests in companies like this.

If you like, a company that does not need additional investment, has a stable cash flow, and has a strong market dominance. Therefore, even if you just sit still, you can make money. The management does not need to do well, it is a company with a good business model. This is the type of company that Warren Buffet and Berkshire Hathaway invest in. Because it is this type of company, you can make an all-in investment, and because you made an all-in investment in this type of company, your assets have increased significantly. The reason we cannot make an all-in investment is that we think there is too much risk, but these companies have no risk. Because the amount of money they earn is predetermined. It may fluctuate a little, but it fluctuates to this extent, not like this up and down, up and down, up and down. That's not it, so there is no need to invest in semiconductor companies there.

In cases like Buffett, it's exactly like this, companies like Coca-Cola are determined to always eat, right? It spreads over the centuries, so we gradually look at it a little more, little by little, so it's a good company. But there is additional investment. Just water and sugar are needed. Just water, sugar, and salt are all you need. Is it correct in any country? To create a new industry, a huge amount of investment is needed every year, hundreds of billions of dollars, hundreds of billions of dollars are needed. So, if you just maintain sales, it's a company that just collects money. Do you like this kind of company? It's a bit difficult, right? However, we can have this attitude a bit, but what are the advantages? Investors who can wait. That's a virtue that we ordinary people don't have. So, you should remember that part.

It's evolving, but Apple's appearance this time, well, what it means is that they didn't increase their investments significantly in the existing investment area. We will not use Nvidia chips in our products anymore, we will switch to our own Apple silicon, and we will make some changes. It's a bit different from other companies. However, when we analyzed our user environment, we realized that providing a certain level of service is sufficient. But yesterday was the developer conference, right? For developers, they might say, There is no innovation at all. You know, Taetae made all the thumbnails with AI. That's a bit different. But the drawings are well done, showing excellent skills. So, from the perspective of such people, they might think there is no innovation at all. However, Apple is a company that doesn't need such innovation. Yes, that's the key point. But now, in the market...

It's about recognizing that, so we keep investing in companies that gather cash like this now. Because we need to follow Buffett, it's important to find out which companies are in Korea and which are in the United States. So recently, in the United States, we bought a company called Chep, and then we bought Petro, right? Petro, in addition, the price dropped, so additional investment is not really needed. But we need a lot of energy, right? Now, we need to pinpoint the bottleneck in energy production capacity. You need to seize the bottleneck. Today, I will tell you about investment know-how. I will continue to make efforts, and there are people among you who are much better than me, and they are hidden. So, you need to do well. If you become a successful exporter, you will become an investment exporter.

It will be done. So, what does it mean to give to Korea? Oh, this is the core. I mentioned it yesterday as well, but if Apple does well, Korea benefits. When Apple does well, it's good for Korea now. Korea is like spreading its wings. It's just good. Last year was so bad, but now it's good. However, aside from enduring that, we are in the memory business. From the perspective of memory companies, how is the market divided? Originally, the PC market was the best at first. The PC market was great at first, then suddenly a crazy market emerged. What was it? The mobile market emerged. The mobile market went crazy, and then what emerged next? The server market emerged. The cloud server market emerged. Next, what emerged now? AI servers emerged this time. But now that AI servers have emerged, cloud servers are growing a bit slowly.

I think this is something that needs to grow steadily. The server side is developing, but mobile isn't really advancing. So, it's not like new things keep popping up one after another. When something new emerges, it gradually shrinks. If something new emerges, the situation was like that. But now, after going around once, if Apple says they will do AI, what will happen? It will expand again. Mobile will expand again, and the cloud will have to expand as well. If mobile expands, the cloud expands. So, what will happen? Memory will increase a lot. You can't help but think that memory will really increase a lot. That's why I've been cursing Samsung Electronics a lot these days because I've been feeling frustrated.

Samsung Electronics had very good luck, to put it simply, they received a table setting from Jeolla Province. They received a Jeolla Province table setting, but the kids couldn't use chopsticks. They forgot how to use chopsticks. They woke up in the middle of sleeping and couldn't use chopsticks. But next to them, Hynix is using chopsticks skillfully, picking up a few pieces at a time and eating like that. The situation was different. But now, since they can't use chopsticks, they are saying, Oh, let me feed you. Drink this. This is the current situation. Just before, about 35 tables were set up. Now, yes, that's right. As they eat properly, it has come to a point where they are just feeding them. In my view, this situation will be reflected with a time lag. If it's fast, it will be from the first half of this year, from July, right? If it's fast, July, right, July and then.

When we look at the U.S., from Thanksgiving Day onwards, the response will come now. Therefore, it seems that Korean companies will be very good. Next, let's take a look at how things are going in the market right now as everyone is watching the FMC meeting. First of all, there is nothing to see in June, and in July, if we look now, it's almost frozen at 91%. In July, next is September. In September, half is frozen, according to the bond market's opinion. It's important to recognize this in September. Some think it's frozen, and some think it will be lowered. Let's look at November. In November, 33% are frozen, and the rest are thinking of a rate hike. So, the market is already reflecting that there will be a rate hike in November. Next, let's look at December. In December, there are many indications that rates will definitely be lowered.

Freezing is almost 11% and nearly 90% are in favor of lowering interest rates once or twice. The median is close to two times, so you can think of it as a median that is slightly less than twice. So, I will show you the FOMC dot plot this time, and in my opinion, if it reaches 4%, the market won't be shocked. If it reaches 4%, some may think that a second interest rate hike is needed, which is okay. It might even be celebrated. Around 4.76, 4.8, or 4.9, it would be fine. If it goes over 5, people might think they will only lower the interest rate once, causing some shock. Yes, there will be some shock. But if you look at it, it's not a huge shock. The opinion that two interest rate cuts should be made is very strong, not until November, but until December, two interest rates...

Because it reflects today, well, in my opinion, the bond market seems to have been somewhat reflected. We can summarize it like this. This month and next month, there are a lot of government bond auctions. This time, there was a $3.9 billion 10-year government bond auction, which was determined at 4.43%. The average yield in the last six times was 4.3%, so the interest rate has increased a bit compared to that time. Despite the recent rise in interest rates, the bid-to-cover ratio this time was 2.67%, higher than the recent average of 2.49%. So, this is considered good. In terms of bidding, foreign investors and others took 75%, which is higher than the average of 74.64%, so the bidding atmosphere was good. Therefore, we can say that the bond market has stabilized somewhat after the interest rate rose one step.

I'm showing you the existing flows, let me take a look at that. Today, as interest rates have dropped significantly, bond prices have soared. Just the day before yesterday, the market was very bearish, but recently, it went as low as 4.7. I even used the expression panic last time, and from 4.47, the interest rate dropped to 4.40. The 2-year is at 4.88, the 30-year is at 4.59, the 5-year is at 4.48, and the 10-year is at 4.41. Overall, there was a slight downward trend in interest rates. Despite the drop in interest rates, the dollar is strong. Other currencies are weak. In Europe, there is news that France will have an early election. Following that, the weakening trend of the yen does not stop. Let's also check the flow of currencies. As the weakening trend continues, what surprised me today was China. It's at 7.27, back to where it wants to be. Just like that.

It's a weak position. Compared to 157 years ago, if we look at it in terms of that, it went back to 877, then to 88, and back to 870 now, so it's relatively a bit less weak. However, one characteristic is that a significant weakness appeared today. This can be seen as a significant point. This is number 1. Really, number 1. How should we handle this? Let's just see. The current situation, but if we keep looking at things like economic growth rates, they are negative. Now, it's a tough situation to raise interest rates strongly from here, so I think the currency issuers can continue to attack in such a situation. The volatility of raw material prices is quite dead today. WTI and Brent are in opposite directions. Brent fell slightly, but it's not at a noticeable level. And the gold price, well, it's not that noticeable, but...

The level of attention is not high, and not all prices are so noticeable, only Bitcoin has dropped a bit. It seems that the possibility of an interest rate cut is disappearing. Isn't it because Bitcoin has lagged behind a bit? Also, there seems to be a lot of pressure at $70,000, confirming that trend. Today, regarding the news related to this week, there will be a live broadcast by the Korea Economic Daily tomorrow, which is great. So, after watching that, let's discuss together. The Small Business Optimism Index has been released, based on 100 as a standard, it has risen slightly to 90.5 compared to last time. The UK unemployment rate is 4.3. Eventually, it seems that Europe has no choice but to continue lowering interest rates, as the unemployment rate is high. This is how it appears. In terms of corporate news, there is now a compensation plan for Tesla's Musk.

Soon, it will be presented, but from what I see, individual shareholders seem to be very scared of the stock price falling, so they will probably ask for compensation to pass. The perspective of long-term investors is a bit different. Last time, the Swedish National Fund opposed it, but they have been against it before, and this time, even the California Pension CalPERS opposed it. It's one of the largest institutional investors in the U.S., and institutional investors keep opposing it. There's a unique aspect here. Since the stock price has dropped, they might be willing to compromise. It's not easy to give in when the stock price is going up. The feeling is different now. Individual investors can change their minds. If they don't handle the compensation here, what will happen to the stock price? It's nerve-wracking, isn't it? How do you feel, Musk? What do you think about Musk's compensation plan?

How do you feel about the Haeju Mosque? If you think about it, it's a bit nerve-wracking, right? It's nerve-wracking. There are some parts like that. But in terms of compensation, personally, I think people might not give their approval votes. Well, I mentioned it yesterday as well. It hasn't been reflected much. Clearly, even though these situations are not immediate, I wonder, when AI is introduced, can Apple really not increase the memory amount in the A16? It might be difficult, but it should be increased. At least, most current models use 6GB, and the Pro line uses 8GB. Even regular models should use at least 8GB. Because right now, only Pros can handle AI. That's why even regular models should have 8GB. Mathematically speaking, that's how it should be. You need to use 8GB. So, how much of an increase is needed? It's an increase of over 30%. From 6GB.

Once it goes over 8 gigs, then how will these guys handle the Pro Line up? You have to use 10 gigs, right? 10 gigs, 10 gigs, it seems like you'll need to use 12 gigs, but in order to run it properly, you'll need to use a lot more. However, because Apple doesn't want to spend money in that direction, Apple is the world's most famous company for being really stingy with RAM, right? Those who use memory sparingly. So, looking at the trend, if 6 becomes 8 and 8 becomes 10, isn't this a reasonable inference? Then, if there is a 30% increase in mobile, it seems that there will definitely be an increase in Android. In terms of the trend, if Apple is 30%, then at least 30% more memory will be added to Android, right? That seems to be a reasonable assumption. So, in mobile...

If the page increases by 30%, even if the demand for mobile replacements does not increase, it can be seen that the usage of the memory that was at the highest level in the past will come out this time, so it can be summarized that Korean memory companies have hit the jackpot in terms of the largest market growth. Thank you sincerely for being with us today. [MUSIC] Hello, this is Jjanne. Nice to meet you. Yes, if you have any inquiries about the seminar, the seminar is available only for customers who have signed up for a Lab account for one year. It's not just for subscribers. Yes, subscribers or viewers will have other opportunities in the future. That should be done in a broader way, something that can be done more popularly separately. It's difficult because we can't even gather 30 people now. It's almost full. It's almost full. It's almost full. In my opinion, it's almost full. Because I sent an email yesterday afternoon.

Check your email, most of it is there. However, even if the first-come-first-served is cut off, try entering the account registration once. Yes, if it's the end of the year, will HBM or LPDDR be able to receive attention? LPDDR is already starting to receive attention, just like HBM, and Samsung Electronics needs to do HBM quickly to not just be a simple manufacturing company. That way, they can add a premium. So what I'm saying is that it's not just about making a lot of profit, but it affects the multiples differently. SK Hynix has entered the area where they receive different multiples now because they are doing something that no one else can do, like a pioneer. Samsung Electronics cannot cross that stage, so it's like an old-fashioned company, but the market is expanding elsewhere. So, sales will definitely decline, but the market size is expanding.

Significant growth is expected in the mobile sector, and if HB Asia is established, it could attract some of the premium from that area. So, if Samsung Electronics cannot do it until next year, then if we only consider the semiconductor sector separately, SK hynix's stock price could surpass Samsung Electronics'. When looking at the semiconductor sector separately, Micron is performing better than SK hynix, but its market capitalization is larger. So, if we compare it to Micron, SK hynix's stock price should increase significantly. Of course, this is not in the U.S. market but in the Korean market, so SK hynix also needs to consider shareholders like One. From now on, if you are thinking about stock prices, but no one thinks that Samsung will fail. Nobody thinks so. But how should we interpret what I am saying now?

From the perspective of someone who thought it would happen since last year, it's frustrating. And it's not the Samsung Electronics that I knew; the Samsung that I knew wouldn't have failed until now. Why couldn't they do it? [Music] Yes, um, why not just let us have a taste this time and then at 17, increase the memory and empty our pockets? That would make sense, right? Even so, shouldn't it increase by about 6GB, 6GB, or 8GB? In my opinion, it's natural. Because logically, only the Pro lineup is supposed to be AI since 16, right? Then the 16 regular model should also have a period, right? Logically, that makes sense. That's why I'm saying this. Yes, they sold a lot of them, but the largest holding of Berkshire is Apple. [Music] Yes. Apple has the highest holding. [Music] Um, for photo and video storage, Google Cloud is used by the 70s parents.

When I see Mr. Baek Gi's application, it seems like it will steadily increase. Right, well, Samsung Electronics' glass substrate test, isn't it Samsung Electronics rather than Samsung Electric? That's about the glass substrate, right? Yes, yes. What's frustrating about Samsung can be confirmed through a frank conversation with Lee Hyung-soo, the CEO of our company, which took place last weekend. The value chain for mobile phones is a bit... a bit, right? But now, when something new like HBM was created, the stock price exploded. When something new is created, the stock price explodes, and when something existing increases, it just increases quietly. Just like the valuation, for example, in Korea, it's usually 10 to 12 times higher than operating profit, or optimistically 15 times. But now, it's just decided. But now, since profits are decreasing, from...

If you try 12 times, the stock price drops, and if the profit increases, if you multiply by 10 to 12, the stock price will go up, right? Yes, that's how you should see it. Oh, I keep forgetting. If the total market doesn't decrease the total market, we keep reducing it. As we have continuously confirmed, the market drops sharply once every two weeks. I should show you that tomorrow. Since we have run out of time today, let's discuss that tomorrow. If you come this time, we will draw one or two people among the seminar attendees and give them a signed copy of the book written by Mr. Ah Shin. It's very expensive, so we are considering giving that as a gift. Yes, thank you sincerely for being with us today. Goodbye.

[미국마감] 애플 7%폭등! 애플이 좋아지면, 한국이 좋아진다!!

[미국마감] 애플 7%폭등! 애플이 좋아지면, 한국이 좋아진다!!

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