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Goldman Sachs Sees Lasting AI Boost for Korea
7 Sep
Summary
- Goldman Sachs strategist maintains bullish stock target.
- AI is expected to sustain growth for memory chipmakers.
- Investors may be underestimating the AI impact duration.
A leading strategist from Goldman Sachs Group Inc. is maintaining a positive forecast for South Korean equities. Timothy Moe, the investment bank's chief Asia Pacific equity strategist, is sticking to his bullish target of 12,000 for the KOSPI index.
Moe believes that market participants are currently underestimating the longevity of the artificial intelligence-driven demand for South Korea's memory chip manufacturers. This strategic view suggests a sustained period of growth fueled by AI advancements.
The continued AI boost is expected to provide a significant uplift for companies specializing in memory chip production. Goldman Sachs anticipates this trend will persist, underpinning their optimistic outlook on the nation's stock market performance.
