Jul 13, 2026 · 7 min
AI demand lifts TSMC as chip and China bets diverge
SK Hynix Slumps, TSMC Up, MiniMax Plunges
The episode shows how the same AI trade is producing sharply different signals across Asian technology stocks.
- 1SK Hynix shares fell as investors took profits after the company’s US trading debut.
- 2TSMC’s strong monthly sales point to resilient global demand for AI hardware.
- 3MiniMax plunged after JPMorgan lowered its price target amid concerns about valuation dilution.
Don't miss
MiniMax’s plunge after JPMorgan cut its price target crystallizes the episode’s warning about valuation risk in Chinese AI stocks.
The brief
Asian technology stocks are moving in opposite directions: SK Hynix slumped after its US trading debut, while TSMC’s sales offered a stronger demand signal.
Stephen Carroll, Caroline Hepker, and Winnie Su examine whether SK Hynix’s decline reflects profit-taking rather than weakening semiconductor fundamentals.
TSMC’s positive monthly sales figures point to robust global demand for AI hardware, keeping the broader technology outlook constructive.
MiniMax provides the sharper warning: its shares plunged after JPMorgan cut its price target, citing concerns around valuation dilution.
Taken together, the moves suggest AI exposure alone is no longer enough; investors are separating durable hardware demand from expensive expectations.
What was said on this episode
9 statements · 2 positive · 6 negative · 1 mixed
The memory cycle may be approaching a peak.
“we might be hitting a peak out when it comes to the memory cycle”
Listen at 1:51
SK Hynix’s quarterly earnings may miss consensus estimates.
“this quarter's earnings from SK Hynix might actually be amiss compared to consensus”
Listen at 2:00
The Korean stock market has become highly volatile.
“it really highlights how volatile the Korean stock market has become”
Listen at 2:31
Demand for TSMC’s products remains very strong.
“the demand at least remains very strong when it comes to the demand for what TSMC can offer”
Listen at 3:26
TSMC is leading the Taiex index higher.
“TSMC dragging, leading the overall Taiex index higher”
Listen at 3:57
Investors question how profitable Chinese AI model makers can become.
“just how profitable these Chinese model makers can actually be”
Listen at 4:42
Minimax’s fundraising through shares and convertible bonds diluted its stock.
“the dilution in the stock”
Listen at 5:13
Minimax has not demonstrated revenue and profitability growth.
“without the company really being able to show that they are able to grow their revenue and their profitability”
Listen at 5:15
Minimax is cutting prices for its latest model.
“they're cutting prices for their latest model”
Listen at 5:22
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.
Taiwan Semiconductor Manufacturing Company Limited (TSMC)
MiniMax
AsiaListen to the full episode and explore every guest, topic, and moment on PodLume.