July 15 Market Report: Global Semiconductor Stocks Intel and Micron Slide... Nvidia Rebounds on H200 Hopes

Semiconductor Sector Weakness and Rally in Large-Caps Pauses

On July 14, 2026, major global semiconductor firms, including Intel, closed lower across the board. Intel finished trading at 103.12 won, down approximately 6% from the previous day's price of 109.84 won. Memory chip leader Micron also fell 0.04% to 937 won, while equipment manufacturers Lam Research and Applied Materials declined by 0.06% and 0.04%, respectively. In contrast, Nvidia is attempting a rebound, buoyed by news that China has begun purchasing its H200 AI chips. According to CNBC, expectations for revenue in China have breathed life into semiconductor stocks, though major chip movements in the Asian market are showing divergent trends.

Ticker	Price	Change	Market Cap	PER
Intel	103.12 won	-0.06%	0.52 trillion won	-
Micron	937 won	-0.04%	1.06 trillion won	22.1
Lam Research	329.92 won	-0.06%	0.41 trillion won	62.5
Applied Materials	575.39 won	-0.04%	0.46 trillion won	56.8

Intel's profitability continues to deteriorate to the extent that Price-to-Earnings Ratio (PER) data is not even calculated. However, Earnings Per Share (EPS) growth came in at 9,865.5%, suggesting a rebound attempt driven by base effects. Micron maintains a relatively low valuation burden with a PER of 22.1. Meanwhile, equipment makers Lam Research and Applied Materials show high PERs of 62.5 and 56.8, respectively, indicating that a significant premium is already priced in. This is interpreted as reflecting macro concerns regarding expansion in facility investments. The broader semiconductor equipment and memory sectors face a stringent market assessment amid short-term profit-taking and uncertainty over the speed of future earnings turnarounds.

Big Tech Valuation Polarization and Defensive Stocks in Focus

Big Tech companies showed muted moves, effectively pumping the brakes on the recent rally. Apple rose 0.01% to close at 317.31 won, while Microsoft edged up 0.02% to 390.99 won. Alphabet's Class A shares slipped less than 1 won. As a clear rotation in market funds becomes visible, the gap between stocks with low valuation burdens and those with clear earnings growth is widening.

Ticker	Price	Change	Market Cap	EPS Growth
Apple	317.31 won	+0.01%	4.66 trillion won	2258.6%
Microsoft	390.99 won	+0.02%	2.90 trillion won	1551.4%
Alphabet (A)	352.51 won	-0.01%	4.30 trillion won	3419.4%
Nvidia	203.53 won	-0.04%	4.93 trillion won	6599.3%

Alphabet boasts an EPS growth rate of 3,419.4%, solidifying its position as an undervalued tech stock. Its PER stands at 26.9, in line with the industry average, highlighting its valuation appeal. Conversely, Meta, with a market cap of 1.67 trillion won, saw its EPS growth rate plummet to -256.0%, failing to buck the trend of declining profits. Barring masochistic investments, such extreme underperformance hits stock prices directly. In an environment of rising market uncertainty, major retail stocks like Walmart and Costco are serving their role as safe-haven assets. Costco trades at a high PER of 46.5, but steady sales growth continues to attract defensive capital.

Excessive Volatility and Implications for Sector Recovery

Recent institutional discussions surrounding the stock market are clearly reflected in the data. On the 14th, the People Power Party criticized the listing of single-stock leveraged ETFs for Samsung Electronics and SK Hynix, arguing that they excessively amplified market volatility. Floor Leader Jeon Jin-seok noted that circuit breakers have already been triggered seven times this year. Systemic risks inherent in the ETF market are rearing their head. While the Asian market suffered a rare decline, the U.S. Nasdaq 100 index is attempting a rebound. CNBC reporter Oliver Renick reported that various semiconductor stocks surged, driving the index upward.

Ticker	Price	Change	Market Cap	PER
Exxon Mobil	144.51 won	+0.04%	0.60 trillion won	24.3
Johnson & Johnson	257.77 won	+0.00%	0.62 trillion won	29.8
Berkshire Hathaway	496.85 won	+0.01%	1.07 trillion won	14.7