[Deep Dive] Deterioration in Semiconductor Stock Sentiment: US Tech Shock and Fundamental Check

The aftermath of the US tech stock correction is spilling over into the domestic market, with a clear downward trend across the semiconductor sector. As of July 2, 2026, the 'deterioration of semiconductor stock sentiment' has emerged as a key market risk.

US Tech Shock Hits Domestic Semiconductor Sentiment

The shock to the semiconductor sector that began in the US New York stock market has struck the domestic stock market. On the 1st (local time), the stock prices of major semiconductor companies such as Micron (-10.57%) and SanDisk (-10.62%) recorded sharp drops in the 10% range. This aftermath continued directly into the domestic stock market on the 2nd, with large semiconductor stocks like Samsung Electronics and SK Hynix falling by about 5-8% intraday, significantly increasing index volatility.

Meta's Entry into Cloud and Concerns over AI Peak-out

Changes in the strategies of global big tech companies and the AI bubble theory are pointed out as the core causes of this deterioration in sentiment towards semiconductor stocks. Meta's announcement of its plan to enter the cloud business, selling idle AI computing resources from its data centers to the outside, acted as the decisive blow. The market interpreted this as a 'peak-out' signal that the AI infrastructure investment cycle may have passed its peak and is slowing down. Added to this, warnings of the collapse of the AI semiconductor bubble from prominent investors like Michael Burry have rapidly cooled investment sentiment.

The Gap Between Fundamentals and Investment Sentiment

It is noteworthy that there is a clear gap between the fundamentals of semiconductor companies and the investment sentiment of the stock market. Actual industry indicators are showing strong performance, with South Korea's semiconductor export value breaking the all-time high last June. In addition, the Korea Chamber of Commerce and Industry's 'Industrial Weather Map for the Second Half of 2026' forecast the semiconductor sector as 'sunny', suggesting that expectations for solid earnings remain valid.

In conclusion, the deterioration of semiconductor stock sentiment currently appearing in the market is interpreted as the result of a combination of vague concerns about the slowdown in AI infrastructure investment and profit-taking sales due to the perception of a peak, rather than a fundamental damage to the fundamentals. It is a time to be wary of short-term volatility while keeping an eye on the direction of the US Fed's monetary policy and the inflow of low-end buying in the future.