"A correction driven by AI worries...ultimately AI will lead the rebound"

[WowQuick] Investment information platform

Kim Jae-seung, a research fellow at Hyundai Motor Securities, appeared on Korea Economic TV on the 6th and said, "The AI rally has not yet passed its peak and will continue," adding, "However, as the beneficiaries of AI investment shift, stock-price corrections and volatility are emerging."

Kim noted, "When the iPhone first appeared, many MP3 makers, camera makers, and legacy handset manufacturers disappeared and the stock market also went through a correction. But new industries and companies later emerged and pushed share prices back up," explaining, "Even now, concerns are growing about companies that may disappear because of AI, but the new companies that will lead the market going forward have simply not yet fully come into view."

He added, "Right now, attention is focused only on companies that are disappearing, so structural growth factors such as new industries and business models AI will create, and potential market leaders, are relatively undervalued," and projected that "the spread of AI will bring a dual effect of reshaping existing industries while also creating new demand and services."

He continued, "Flagship AI companies such as Anthropic are not yet listed, so investors cannot invest directly. Instead, only existing listed companies affected by AI are being reflected in the market, making it look as though equities are undergoing a larger correction," adding, "Rather than the AI rally itself being over, it is more accurate to see this as a consolidation phase in which the beneficiary landscape and the roster of names are being reshaped."

● Key points

- The AI rally is expected to continue rather than having passed its peak, but corrections and volatility are emerging as beneficiary names shift.

- When the iPhone debuted, legacy electronics makers disappeared and the stock market was shaken, but new industries and companies later emerged and the market rose again—following a similar pattern.

- With attention focused only on worries over companies that may disappear, structural growth factors such as new industries, business models, and potential leaders that AI will create are undervalued.

- With key AI companies such as Anthropic still unlisted, the view is that the AI rally is not over but is in a consolidation phase as the beneficiary landscape is reset.