#Downside Scenario

SanDisk fell 11% the day Bernstein raised its target to $3,000. The four reasons good news became a sell signal, an 850% surge at a 77x P/E, Hynix-ADR premium erosion, and the WD overhang, plus the downside scenarios.

Foreigners dumped 150 trillion won on the KOSPI in H1 as the won hit 1,540. Why do SK Hynix and Samsung, the most-held and most-appreciated names, crack first? The feedback loop, the ADR myth vs. reality, the 4,700T capex weight, and the downside scenarios.