SK Hynix shares rise ahead of Nasdaq debut
Спикеры
Kristina Partsinevelos
— Репортер по рынкам, CNBC
CNBC's Kristina Partisinevelos reports on SK Hynix's Nasdaq debut. She explains the company's dominant position in high-bandwidth memory, its competitive advantages over Micron, and how the US listing provides a catalyst to close the valuation gap. The report also covers the capex plans that keep memory supply tight until late 2027, supporting elevated prices, while noting the longer-term risk of a memory cycle crash.
- SK Hynix raised $26.5 billion at $149 per ADS, the second-largest share sale after SpaceX.
- It is the world leader in high-bandwidth memory with 58% market share, versus Micron and Samsung at ~21% each.
- The stock trades around 5-6x forward earnings, cheaper than Micron's 7x, and the US listing may close that discount.
- Analysts anticipate up to $14 billion in passive buying as SK Hynix enters major indices.
- Capex goes to new fabs and ASML equipment; no new supply arrives before late 2027, keeping memory prices high.
- Long-term risk: memory supercycles historically end in crashes when supply eventually catches up.
Идеи
Bigger, cheaper, closer to NVIDIA than Micron.
SK Hynix is the world leader in high-bandwidth memory (HBM) with 58% market share, making it bigger, cheaper, and closer to NVIDIA than rival Micron. Its US ADS listing allows American investors to buy the stock for the first time, which analysts see as a catalyst to close the valuation discount to Micron. Berkeley estimates up to $14 billion in passive buying as it enters major indices. The $26.5 billion capital raise funds new fabs and ASML equipment, but no supply arrives before late 2027, keeping the memory shortage and record-high prices intact.
Далее
This CNBC video, published July 10, 2026, features Kristina Partsinevelos discussing 000660.KS. 1 trade idea extracted by AI with direction and confidence scoring.
Speakers: Kristina Partsinevelos · Tickers: 000660.KS