Goldman Sachs Maintains South Korea Overweight on August 6, Says AI Stock Selloff Overdone

GS-3.80%
DRAM0.51%
According to Goldman Sachs, on August 6, the bank maintained its overweight stance on South Korea's equity market, arguing that recent selling in AI-related stocks has been excessive and fundamental logic remains intact. Goldman Sachs views the decline as primarily reflecting position and leverage liquidation rather than deterioration in fundamentals. The bank's core thesis remains that AI computing demand will drive sustained growth in DRAM, HBM, and NAND storage, with memory chip supply potentially remaining tight through 2030. Given high operational leverage in memory manufacturers, sustained pricing strength could significantly amplify profit margins.
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