Stock Strategy Report — 2026-06-24

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1. Market Trends and Stock Drivers by Ticker

Oracle (ORCL) — Large-scale restructuring to boost AI investment Oracle announced on June 23 (KST) that it is laying off approximately 21,000 employees, about 13% of its total workforce. The company stated this restructuring is intended to focus resources on a $5 billion AI infrastructure build-out. While Q4 2026 (fiscal year) earnings hit an all-time high and the backlog now exceeds its market cap, the stock fell 5% as of the June 25 filing date, reflecting concerns over intense competition for AI talent and short-term profitability.

Astera Labs (ALAB) — Strong performance following Nasdaq-100 inclusion Astera Labs was added to the Nasdaq-100 index on June 22. The company reported $308.4 million in Q1 2026 revenue, marking a 93% increase year-over-year and 14% growth quarter-over-quarter. While it is positioned as a pure-play AI infrastructure provider in the PCIe Gen-6 connectivity space, concerns remain regarding its extremely high valuation.

Samsung Electronics (삼성전자) — Target price raised amid semiconductor boom On June 22, iM Securities raised its target price for Samsung Electronics to 480,000 KRW while maintaining a "Buy" rating. The ongoing recovery in the memory semiconductor industry and increased investment in AI data centers were cited as key positive factors. The semiconductor boom is expected to continue through next year.

DL E&C — Hit with an 853.3 billion KRW tax assessment by Saudi authorities On June 22, DL E&C disclosed that it received an 853.3 billion KRW corporate tax assessment from the Zakat, Tax and Customs Authority (ZATCA) of Saudi Arabia related to EPC projects commissioned between 2006 and 2019. This amount equals 16.27% of the company's equity. The firm plans to contest the assessment, labeling it "unjust." As of 11:00 AM KST on June 23, the stock was trading at 62,300 KRW, down 15.81% from the previous day.

IonQ (IONQ) — Market correction despite solid earnings IonQ reported $64.7 million in revenue for Q1 2026, significantly beating analyst expectations. However, the stock saw a slight dip in after-hours trading, likely reflecting a correction phase due to its very high valuation.

New filings regarding VST As of the time of this report, no recent news (post-2026-06-22) is available for VST.

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2. Expert Analysis and Investment Opinions (Target Price/Buy/Stop-Loss)

Samsung Electronics (005930) — iM Securities: Target 480k KRW, "Buy" maintained iM Securities analysts maintain a "Buy" rating, citing the sustained memory boom and AI data center growth as the drivers for the 480,000 KRW target. They expect the industry upcycle to persist through next year.

SK Hynix (000660) — iM Securities: Target 3.5 million KRW, "Buy" maintained In the same vein, iM Securities upgraded its target for SK Hynix to 3.5 million KRW, maintaining a "Buy" recommendation.

Astera Labs (ALAB) — Seeking Alpha: "Sell" rating A Seeking Alpha analyst issued a "Sell" rating, noting that Astera Labs' valuation is overly inflated. While acknowledging its status as a pure-play AI infrastructure firm, the current stock price is considered difficult to justify.

DL E&C (375500) — Stock plunges post-filing, legal action required Management at DL E&C stated they will proceed with an appeal, calling the Saudi tax assessment "unjust." Legal experts suggest that since the tax relates to contract performance without negligence, there is potential for a favorable outcome in the appeal.

Oracle (ORCL) — Re-evaluation needed following restructuring Following the layoff announcement, the stock fell 5%. Given the blend of positive resource reallocation toward AI and concerns over short-term profitability, further market adjustments may occur ahead of upcoming quarterly earnings reports.

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3. Shareholder Strategy and Summary Report

Strategy 1: DL E&C — Hedging short-term volatility and tracking the appeal process With the stock down 15.81% on June 23, shareholders are advised to:

• Set a short-term stop-loss (5-10% below current price).
• Regularly monitor updates on the company’s appeal process.
• Check 2026 Q3 disclosures for progress on legal developments.

Strategy 2: Semiconductor stocks (Samsung Electronics, SK Hynix) — Check valuations despite upgrades Despite the target price hikes by iM Securities, current market assessments of AI demand may be excessive. Shareholders should:

• Monitor monthly industry supply/demand (memory prices, inventory levels).
• Check quarterly operating margin trends for each company.
• Consider profit-taking once target prices are reached.

Strategy 3: Astera Labs (ALAB) — Manage high-valuation risk and define exit criteria Institutional inflows are expected following its Nasdaq-100 entry, but the valuation is extremely high. Shareholders should:

• Track quarterly margin expansion (current margins to be disclosed).
• Verify the sustainability of its PCIe Gen-6 competitive edge.
• Take immediate profits if valuation correction signals (e.g., lowered EPS estimates, economic slowdown) appear.

Conclusion and Key Dates: As of June 24, the global semiconductor and AI infrastructure investment cycle remains in an uptrend, though short-term volatility is expected due to individual valuation corrections and structural changes. Key monitoring points include the result of DL E&C's appeal (expected: H2 2026), Oracle’s Q1 2027 earnings (expected: Sept 2026), and Astera Labs’ quarterly margin trends (expected: Aug 2026).