Changes in US stocks | Memory chip concept stocks generally fall, Seagate Technology (STX.US) falls more than 6%

The Zhitong Finance App learned that on Monday, memory chip concept stocks generally fell, with Seagate Technology (STX.US) falling more than 6%, Western Digital (WDC.US) falling more than 5%, SK Hynix (SKHY.US) falling more than 4%, Micron Technology (MU.US) falling more than 3%, and SanDisk (SNDK.US) falling more than 1%.

Morgan Stanley raised the Korean stock market rating to “overrated,” believing that the previous drastic leverage cleanup is nearing its end, and KOSPI's valuation has fallen to a historically low level, providing investors with a more attractive opportunity to enter the market. The target price is 9,000 points, implying 36% upside compared to the current price.

Morgan Stanley said that KOSPI's forward price-earnings ratio has fallen to 5.7 times, a record low; hedge funds have been deleveraged by about 75%, the size of leveraged ETFs has evaporated 70% from the peak, and the chip structure has improved markedly. Capital management trends, HBM4 pricing, and the iPhone 18 release cycle are the three core catalysts for the next phase of the rise in Korean stocks.