The analyst also sees the Nasdaq reaching 35,000 by 2029 and names Nvidia, Microsoft, Palantir, Apple, and CrowdStrike among his top tech picks for 2027.

  • Ives says the KOSPI’s recent selloff has been excessive and expects the index to return to around 9,000 within six to 12 months.
  • He expects global memory-chip shortages to persist until early 2029, stating that investors are underestimating the market’s scale.
  • Ives says South Korean chipmakers remain at least three years ahead of Chinese rivals such as CXMT, dismissing concerns about China’s technological progress as overblown.

The South Korean stock market could hit fresh all-time highs over the next six to 12 months as concerns over artificial intelligence (AI) have triggered an excessive selloff, according to analyst Dan Ives. The Yorkville Ives partner and senior managing director sees further upside in Korean semiconductor companies, expects U.S. technology stocks to rise through 2029 and has named five stocks he favors for 2027.

KOSPI Selloff Creates Buying Opportunity

“South Korea reminds me of Silicon Valley in the mid-1990s,” Ives said during a press conference in Seoul on Wednesday. He added that global AI investment remains in its early stages and that investors are underestimating the role of South Korean companies in the AI ecosystem.

Ives expects the KOSPI to recover to around 9,000 within the next six to 12 months. “Four years ago, small Wall Street financial firms didn’t even know what the KOSPI was, but now even New York taxi drivers do,” Ives said.

However, the index turned negative on Wednesday after rising as much as 2.6% earlier in the session. South Korea-focused exchange-traded funds also came under pressure. The Direxion Daily South Korea Bull 3X Shares (KORU) fell more than 4% in the premarket session, while the iShares MSCI South Korea ETF (EWY), which tracks large- and mid-cap South Korean equities, declined 1.3%.

Samsung, SK Hynix Undervalued

Ives believes South Korean semiconductor giants SK Hynix Inc. (SKHY) and Samsung Electronics (SSNLF) are undervalued relative to their fundamentals.

Ives also pushed back against concerns about capacity expansion and technological advances by Chinese memory-chip makers, including ChangXin Memory Technologies. He said South Korean companies remain at least three years ahead of their Chinese competitors. 

He acknowledged that China could narrow the gap and eventually develop competitive solutions, but said concerns about Chinese competition hurting South Korean memory-chip companies were overblown.

Nasdaq Could Reach 35,000 By 2029

Ives also predicted that U.S. large-cap tech stocks could see their valuations rise by an average of 30% by 2029 as AI investment expands.

“The fourth industrial revolution led by AI is only about 15% complete,” he said, adding that the Nasdaq could reach 35,000 by 2029. The tech-heavy index closed at 27,204.38 on Oct. 13, implying a potential gain of about 29.6% over the next three years if it reaches that level.

Ives Names Five Tech Stocks For 2027

Looking ahead to 2027, Ives identified Nvidia (NVDA), Microsoft (MSFT), Palantir (PLTR), Apple (AAPL) and CrowdStrike (CRWD) as his top five technology stock picks. He also expressed optimism about Tesla (TSLA) and SpaceX (SPCX), predicting an 80% probability that the two companies will merge within the next 12 months.

“Musk’s plan is to bring all AI companies under one roof, and this entity will become the world’s largest hyperscaler,” Ives said.

How Korean Markets Have Fared In 2026

South Korean stocks have rallied sharply this year, with the KOSPI up more than 42% year-to-date. Similarly, EWY has climbed around 70%, while KORU has gained over 59%.

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