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Next edition in 266 min Oct 27, 23:00 - Oct 28, 09:00 Lisbon
Premarket Alpha Midday Alpha Post-Market Alpha
Daily Alpha Premarket Alpha by Buzzberg Research

What matters before the open

SK hynix's 80%-margin quarter and its view that DRAM and HBM are effectively sold out through 2029 lead, with OpenAI's reported plan to buy Google AI chips, Broadcom's $63 billion Anthropic chip financing, and a WSJ report of possible US Iran operations after the midterms, with Brent above $115.

Main narratives

day change
01

SK hynix says DRAM and HBM are effectively sold out through 2029 after an 80%-margin quarter

SK hynix reported third-quarter revenue of KRW104.6 trillion and operating profit of KRW83.3 trillion, both above consensus, while net income of KRW39.5 trillion missed, per Jukan. It has long-term agreements with 14 customers covering more than 50% of 2027 and 2028 capacity, says customer HBM requests exceed twice its supply, and expects about KRW100 trillion of FY2026 shareholder returns. Teng Yan notes the sold-out claim includes demand still being negotiated.

000660.KS +2.2%
02

OpenAI plans to buy Google's AI chips, per The Information, and is hiring TPU compiler engineers

The Information reported that OpenAI plans to buy Google's AI chips; financial terms and other details of the planned purchase could not be learned. PhotonCap notes OpenAI posted a TPU compilers role on October 20 to optimize its frontier models for TPU execution, and that no finalized agreement has been confirmed. Separately, an expert call relayed by pequityresearch says Google faces severe compute shortages, with TPU v8i delivery delayed by roughly one quarter.

GOOGL -10.2% · NVDA -0.5% · AVGO -2.3%
03

Banks plan up to about $21 billion of bonds for Broadcom's $63 billion Anthropic chip financing

Banks plan to sell as much as about $21 billion of high-grade bonds as soon as early next year as part of the $63 billion package Broadcom pulled together to finance chips for Anthropic, per Bloomberg. Zerohedge says the first lien Broadcom is supporting is about $43.5 billion, or 69% of the total. On Mad Money, Jim Cramer called the data-center rally fragile, pointing to CoreWeave's distressed bond yields.

AVGO -2.3% · CRWV -5.8%
04

The US told Gulf states to prepare for a short campaign after the midterms, per the WSJ, with Brent above $115

The US told several Gulf Arab countries to be prepared for a short, intense military campaign after the US midterm elections, according to people cited by the WSJ, per Newsquawk. Brent futures rose $1.48 to $115.36 a barrel. A Bloomberg market analysis said crude is unlikely to calm until there is clarity on US policy toward Iran after the midterms and warned that higher oil could revive inflation and central-bank tightening expectations.

TLT +0.4%

Themes of the session

?
Z-score shows how far this edition's mention count is above or below the theme's own average across 20 comparable earlier editions. +2.7σ means mentions are 2.7 standard deviations above that average — simply, the theme is being mentioned much more often than usual. It measures attention, not bullishness or expected return. Themes need at least 8 posts; gold begins at +2σ, and σ is hidden when history is too thin.
Brokers +6.5σ
HOOD -1.7% · 006800.KS -2.1% · 8628.T -0.8%
12 posts 10 voices base 2.2
AI Memory +5.6σ
000660.KS +2.2% · SKHY -1.3% · MU -2.6%
+6 more 005930.KS -4.1% · SNDK -2.1% · 005935.KS — · SKHMY — · WDC — · 285A.T —
129 posts 71 voices base 37.9
Payments & Fintech +4.9σ
V +1.6% · PYPL -1.1% · SOFI -1.7%
+2 more NU — · JIOFIN.NS —
12 posts 6 voices base 3.0
Internet Platforms +4.0σ
035420.KS -2.7% · RDDT -2.1% · SNAP -1.2%
+4 more SSP — · 035720.KS — · LZ — · TCEHY —
13 posts 12 voices base 3.5
Telecom Operators +3.0σ
SKM -1.0% · 017670.KS -3.0% · TEL.OL +0.0%
+1 more ISAT.JK —
10 posts 7 voices base 2.6
AI Photonics +1.7σ
LITE +6.0% · COHR +0.6% · GLW -2.1%
+14 more CRDO — · 011070.KS — · AAOI — · NOK — · AXTI — · CIEN — · ANET — · IQE — · AMS.SW — · 4977.TW — · 2455.TW — · SIVE — · CSCO — · 097520.KS —
22 posts 17 voices base 13.7
Hyperscalers +1.4σ
GOOGL -10.2% · META +0.9% · MSFT +2.9%
+3 more AMZN — · GOOG — · ORCL —
46 posts 29 voices base 28.9
Banks +1.3σ
STAN.L +0.0% · UBS +1.5% · JPM +1.3%
+5 more BNP.PA — · DB — · 7182.T — · HDFCBANK.NS — · SAN —
14 posts 8 voices base 6.5
AI Hardware +0.9σ
009150.KS -4.1% · AAPL +1.3% · STX —
+8 more DELL — · CLS — · HPE — · JBL — · PENG — · OSS — · HPQ — · NTAP —
21 posts 17 voices base 14.1
Technology +0.8σ
AI-SECTOR —
9 posts 9 voices base 6.2
AI ASIC +0.7σ
AVGO -2.3% · ARM -3.4%
17 posts 11 voices base 11.9
AI Compute +0.5σ
NVDA -0.5% · AMD -2.4% · CBRS -2.5%
38 posts 20 voices base 32.9
Equity Indexes +0.1σ
EWY -2.7% · SPY — · QQQ -0.9%
+21 more ^KS11 — · NDX — · FXI -0.1% · SPX — · EWZ -0.2% · EWQ +0.0% · VGK +0.0% · SCHB — · VXUS — · KOSPI — · XSP — · VOO — · NASDAQ — · ^GSPC — · EWT — · CQQQ — · CHIQ — · EWL — · EWJ — · KSA — · VT -0.2%
39 posts 37 voices base 38.2
Commodities +0.0σ
GLD -1.1% · USO -0.5% · BNO -0.5%
+4 more WTI -0.5% · DBC — · CPER — · UNG —
21 posts 14 voices base 20.8
Positioning Market Radar →

Buying / adding

2 positions · 2 voices

Selective / waiting

2 positions · 2 voices

Fading / not buying

2 positions · 2 voices
YouTube
15 videos · 36h 35m UBS's Evan Brown called Treasuries near 5% yields asymmetric, David Woo argued AI commoditization leaves Nasdaq valuations vulnerable, and a Bloomberg desk named oil as the main risk until there is clarity on Iran. Open the desk →
X
1210 posts Jukan relayed SK hynix's LTAs with 14 customers covering over 50% of 2027 and 2028 capacity, Teng Yan noted that the sold-out claim includes demand still being negotiated, and Jukan relayed Reuters on CXMT's HBM3E at a 20% yield. Open the desk →
Reddit
399 threads Reddit authors called Anthropic's IPO a trillion dollar scam, argued AppLovin trades near 13x forward earnings, and questioned Boeing's normalized cash flow after its 2027 guidance. Open the desk →