Investment Report: 30% Returns Hold Firm Amid Semiconductor Sell-Off

30% Gains Hold Firm Amid a Sharp Semiconductor Reversal

With the aftershocks of Friday night still lingering after the Philadelphia Semiconductor Index plunged more than 3% in a single day, the KOSPI also fell nearly 1%. The shockwave from news of NVIDIA CEO Jensen Huang's resignation rippled through risky assets worldwide. Yet amid all the turmoil, the AI Value Investing Portfolio has maintained a quiet composure, holding a cumulative return of 30.99% and assets of $13,098. It is a day that shows just how well a 'value bulwark' can withstand a turbulent market.

A Jagged Asset Curve, But Pointing Upward

The portfolio's character is on full display in its recent five-day asset trajectory. It started at $11,857 on November 9, surged to $13,006 by the 12th, and gave back a modest amount on the 13th. Given that Nasdaq 100 futures fell more than 1%, this level of decline is actually rather restrained. The volatility index (VIX) rose to 19.3, but this is no panic phase; what is more concerning in the long run is the U.S. 10-year Treasury yield breaching 5.15%. It is a rate environment that could deepen valuation pressure on growth stocks.

Holdings Diagnosis: The Undervalued Axis and the Overvalued Axis

Stock	Shares	Purchase Price	Current Price	PER
Broadcom	5.67	$326.03	$364.36	46.5
NVIDIA	22.80	$184.21	$166.19	21.0
AMD	5.84	$198.62	$585.30	125.1
Micron	1.94	$872.91	$798.44	10.7
Amazon	1.95	$208.39	$267.44	21.6
Intel	2.80	$104.56	$61.20	-
Meta	0.55	$653.56	$623.61	21.3
SOXL	13.92	$71.22	$65.53	24.7
TQQQ	1.13	$76.34	$59.88	27.5
TSMC	0.44	$431.81	$405.49	26.3

The backbone of this portfolio is clearly divided. One axis is Micron and NVIDIA. Micron trades at a PER of just over 10x on earnings per share of $74, with a growth-adjusted PEG of a mere 0.16. Factoring in HBM4 supply price increases and memory demand in the age of AI inference, one can argue the market has yet to properly price in memory earnings. NVIDIA, too, despite its pullback, remains undervalued relative to growth at a PER of 21x and a PEG of 0.21. AMD, by contrast, has seen its PER soar to 125x after a 195% surge. Its PEG of 0.5 is not bad, but it means expectations for future growth have already been substantially priced in, like a forward contract. Intel, meanwhile, mired in operating losses, now trades in the 60% range of its purchase price, standing as a losing position and a weight dragging down the portfolio's overall return.

Recent Trades Recap: Profit-Taking and a Rotation Into Undervalued Names

Date	Type	Stock	Shares	Price
2026-11-13	Buy	Micron	0.44	$798.44
2026-11-13	Sell	AMD	0.31	$585.30
2026-11-13	Sell	NVIDIA	1.20	$166.19
2026-11-06	Buy	Micron	0.20	$656.39
2026-11-06	Sell	AMD	0.32	$404.40
2026-10-30	Buy	TSMC	0.44	$431.81
2026-10-30	Sell	AMD	0.34	$566.42
2026-10-23	Buy	Micron	0.47	$856.49
2026-10-23	Sell	NVIDIA	1.26	$212.21
2026-10-23	Sell	AMD	0.36	$507.93

The strategy read from the trading pattern is simple but rigorous. AMD, after its steep run-up, was sold off in three tranches, gradually unwinding a single-stock position that had swelled to 27%, with the proceeds rotated into undervalued names within the sector. Notably, the November 13 NVIDIA sale — trimming the position as a hedge against uncertainty while preserving the core stake during the extraordinary episode of CEO risk — is nearly a textbook case of risk management. The three staged purchases of Micron represent classic contrarianism that reframed the sell-off as an 'opportunity.' The discipline of buying in installments rather than betting all at once became the strength that let the portfolio endure the downturn's losses.

Outlook: Two Flashpoints — Rates and CEO Risk

There are two near-term variables. Depending on how Jensen Huang's succession plan is finalized, volatility around NVIDIA is likely to persist for now, and U.S. long-term rates hovering around 5% continue to impose strain on richly valued growth stocks. That said, the won-dollar exchange rate staying stable in the 1,336-won range and the VIX only just topping 20 are signals that the market is interpreting this as an idiosyncratic issue, not systemic risk. For this portfolio to succeed, Micron and NVIDIA's earnings must ultimately overcome the market's skepticism. The correction is a test of the undervaluation thesis — and the trading record so far shows that conviction has not wavered.

※ This report analyzes the simulated operation of the AI Value Investing Portfolio and is not investment advice. Actual investment decisions should be made at your own judgment and responsibility.