Semiconductor Fundamentals Remain Solid in Q3 Despite Recent Stock Pullbacks, Mirae Asset Says

According to Kim Sang-yul, Global ETF Management Head at Mirae Asset, semiconductor fundamentals remained solid on August 6, with industry conditions expected to tighten further in the third quarter. During an online seminar on the official TIGER ETF YouTube channel, Kim noted that recent stock price declines were driven by valuation exhaustion and market sentiment rather than deteriorating industry conditions.

Memory chip contract prices are forecast to rise 13-18% quarter-over-quarter in Q3, with the broader memory market projected to grow 32.1% in 2027. However, memory-focused companies such as Samsung Electronics and SK Hynix experienced average losses of 25% from July 24-31, while non-memory semiconductor firms including ASML, Nvidia, and TSMC declined only 9.5%. Kim advised investors to diversify holdings across the semiconductor value chain including fabless, foundry, and equipment suppliers to reduce concentration risk.