August 26 Market Report: Semiconductor Top 5 Frozen within 0.06% Range
Five large-cap stocks with a market capitalization of over 1 trillion won froze within a margin of 0.06% on the day.
Data from the New York stock market on August 25, 2026, shows that Micron (-0.06%), Tesla (-0.04%), Nvidia (-0.03%), Broadcom (-0.03%), and TSMC (-0.02%) remained effectively flat. However, this appears to be less about individual weakness in these stocks and more of a minor adjustment stemming from higher reference prices compared to the previous trading day. According to Yonhap News, the three major indices in New York actually rose in tandem; the Dow Jones Industrial Average closed up 160.24 points (0.30%) at 53,577.40. The S&P 500 also rose 24.40 points (0.32%) to 7,677.28.
Semi Big 5: Minor Adjustment on High Reference Prices
| Symbol | Price | Change | Market Cap | PER | EPS Growth |
|---|---|---|---|---|---|
| Nvidia | 208.48 won | -0.03% | 5.05T won | 31.9 | 6599.3% |
| TSMC | 410.12 won | -0.02% | 2.13T won | 30.6 | 4430.2% |
| Broadcom | 358.76 won | -0.03% | 1.71T won | 59.5 | - |
| AMD | 456.75 won | -0.03% | 0.75T won | 116.2 | 16435.6% |
| Micron | 910.43 won | -0.06% | 1.03T won | 20.6 | - |
As the table reveals, the decline among large-cap semiconductor stocks was a mere 0.06% at most. While Nvidia fell from 214.72 won to 208.48 won and Micron from 966.78 won to 910.43 won compared to the previous close, this translates to noise-level percentages. The more eye-catching indicator is valuation. Micron's PER of 20.6 is the lowest in the semiconductor group, contrasting with AMD (116.2) and Broadcom (59.5), which enjoy a premium. AMD's explosive earnings improvement, with an EPS growth rate of 16,435.6%, is cited as the justification for its high valuation.
Tesla's High Wall: PER of 323x
| Symbol | Price | Change | Market Cap | PER | EPS Growth |
|---|---|---|---|---|---|
| Tesla | 348.95 won | -0.04% | 1.38T won | 323.1 | -4709.0% |
| Meta | 559.02 won | +0.02% | 1.42T won | 21.1 | -256.0% |
| Palantir | 175.89 won | -0.02% | 0.42T won | 149.1 | 22857.1% |
Tesla's PER reaches 323.1x. Considering Meta, which is in the same market cap bracket, has a PER of 21.1x, this represents a gap of over 15 times. Furthermore, the recorded EPS growth rate of -4,709.0% signals a collapse in earnings-based valuation. While the stock price decline itself was limited to 0.04%, it marked the largest drop in absolute terms during this adjustment compared to the previous close of 362.86 won. In contrast, Palantir maintains its growth stock logic with a PER of 149.1x backed by an EPS growth rate of 22,857.1%.
Why Indices Rose While Stocks Stalled
The variable dominating the market's direction on this day was government bond yields. As reported by foreign media such as The Wall Street Journal, CNBC, and Bloomberg, the three major indices closed higher in unison as soaring U.S. Treasury yields retreated. However, large-cap individual stocks remained in the flat zone. This is interpreted as the index gains being absorbed by traditional quality stocks in the finance and consumer sectors. Indeed, JPMorgan (+0.01%, PER 15.3), Berkshire Hathaway (+0.02%, PER 12.7), Costco (+0.02%, PER 48.8), Visa (+0.03%), and Mastercard (+0.03%) all recorded gains. This suggests a rotation into financial stocks with low valuations and stable consumer stocks.
Trigger Pulled by Nvidia Earnings
The short-term direction hinges on Nvidia's earnings announcement. Some in the market point out, like a U.S. investment firm analysis, that the stock may not rise solely on strong earnings. The interpretation is that the key is whether the company expands its business across the entire AI value chain. Nvidia's PER of 31.9 is lower than Apple's (35.6) and is backed by an EPS growth rate of 6,599.3%, suggesting the fundamentals offer sufficient defense. A rotation into relatively undervalued AI beneficiaries like Alphabet (PER 17.3) and Micron (20.6) also appears to be a valid scenario. The fact that individual stock movements converged to less than 0.1% during a sector rotation implies the entire market has entered a consolidation phase, waiting for the next catalyst. The deeper the breath a stock takes, the more significant its directional move is expected to be after the earnings report.
