Overview
- A sharp early-week sell-off in AI-linked and chip stocks gave way to a comeback after strong cloud results from Microsoft and Amazon restored investor confidence.
- The Kospi staged a historic one-day leap on Friday, led by SK Hynix and Samsung, helped by reports of a near-$14 billion South Korean sovereign‑fund AI plan and a $3 million insider share purchase by SK Group chair Chey Tae‑won.
- Apple beat June‑quarter sales estimates but warned of significant supply constraints and rising memory costs that knocked its shares sharply and flagged weaker near‑term growth.
- Qualcomm cut its near‑term profit forecast and said higher memory and production costs plus weaker Apple revenue will pressure margins even as it pushes into data‑centre chips.
- Markets are now more positive about AI capex translating to revenue, yet the rebound coexists with clear risks from strained chip supply chains, rising input costs, and higher bond yields that could limit how sustainable the rally is.