SK HiNix has recently shown impressive performance in the memory sector, prompting investors to reassess the company’s long‑term supply capacity. In a report released on March 30, NH투자증권 noted that “in the AI era, demand for memory is expected to accelerate,” setting a target share price of 3.4 million won and maintaining a “buy” recommendation.
The report emphasized the sustainability of the company’s long‑term supply strategy rather than short‑term results. Researcher Ryu Young-ho stated that as the custom ASIC market expands, demand for high‑bandwidth memory (HBM) is expected to grow; this will positively influence the market by limiting the availability of generic DRAM. He also noted that with the spread of AI and other applications, memory demand continues to rise, enhancing the strategic value and resilience of long‑term supply.
The researcher expressed only mild concern about HBM contracts with major customers and quality issues. He said that as these customers’ long‑term supply agreements expand, the proportion of customized products will increase, strengthening SK HiNix’s market position; any quality problems can be addressed at an acceptable level.
Second‑quarter sales are expected to rise 281.2 % from the same quarter last year to 93.208 trillion won, with operating profit projected to grow 538.6 % to 72.699 trillion won. The market forecast is modest, but currency fluctuations have a significant impact. The researcher also projected that from Q3 onward, HBM4 volume will increase, positively affecting average selling prices.
Kim Yeon‑ji of HanKyung.com.