Following Micron Technology's surge, expectations for a re-evaluation of memory semiconductors have spread to Samsung Electronics and SK Hynix. The photos show Samsung Electronics and SK Hynix. [Photo=Yonhap News Agency] 

The theme for this week's stock movements is 'the re-spread of the AI infrastructure rally.'

AI was once again the leading theme in the U.S. stock market. However, this time, it wasn't solely about Nvidia, the U.S. AI semiconductor company.

Micron Technology's surge stimulated a re-evaluation of memory semiconductors, and Snowflake's surge indicated that AI infrastructure investment is expanding into software and cloud sectors.

AMD, Arm, and Qualcomm, a U.S. telecommunications semiconductor company, have also re-entered the market's spotlight. The AI rally is showing a trend of spreading from chips to servers, and from servers to data platforms.

There is one question for this week's Stock Radar.

Will the AI rally bring Korean semiconductors back to the center of the index?

For Korean investors, the U.S. tech stock rally is not a distant story. When Micron Technology rises, the memory price outlook for Samsung Electronics and SK Hynix shifts again.

When Snowflake rises, it is read as a signal that the cloud infrastructure investment cycle is alive.

When AMD and Arm rise, it is interpreted that the AI server ecosystem is expanding beyond Nvidia's dominance. All these trends are ultimately connected to the demand base for Korean semiconductors.

Three structures were confirmed in the market this week.

First, memory semiconductors have re-entered the center of the AI rally.

AI servers do not operate solely on computational chips. High-performance memory, storage, and data processing infrastructure are also required.

Micron Technology's surge signifies that the market is beginning to view memory not as a mere cyclical industry but as an essential asset for AI infrastructure. Reuters reported that Micron Technology was approaching a market capitalization of $1 trillion after UBS significantly raised its target price.

Second, the AI rally has expanded to software and data platforms.

Snowflake announced a multi-year strategic collaboration worth $6 billion to expand its utilization of Amazon Web Services (AWS) infrastructure.

This does not mean that AWS has invested in Snowflake, but rather that Snowflake intends to expand its use of AWS-based infrastructure to meet enterprise AI and data demands.

This news indicates that AI investment is not limited to data center construction and semiconductor purchases but is also expanding to enterprise data processing and analysis infrastructure.

Third, in the Korean market, leverage supply and demand can amplify volatility.

Among Exchange Traded Products (ETPs), single-stock leverage products for Samsung Electronics and SK Hynix can further increase interest in large-cap semiconductor stocks, but at the same time, they can create short-term supply and demand kinks.

During an uptrend, they amplify index momentum, but during a downturn, they can amplify volatility.

For Korean investors, it is important not just to conclude that semiconductors are good, but to also observe the supply and demand structure upon which the semiconductor rally is unfolding.

This week's Stock Radar conclusion is as follows.

The AI rally has shifted its weight back to semiconductors, and Korean memory is at one of the core pillars.

Next week's observation points are threefold.

First, we need to confirm whether the re-evaluation of memory semiconductors continues following Micron Technology's surge.

Second, we need to see if the AI infrastructure rally is spreading across software, cloud, and semiconductors.

Third, we need to assess whether the rise of Samsung Electronics and SK Hynix is accompanied by both earnings expectations and foreign investor inflows.

※This article is for reference analysis to aid in understanding the news, not investment advice, and actual market and stock prices may vary depending on industry conditions, earnings, exchange rates, supply and demand, and volatility of leverage products.