Peak? 'No supply until 2028, so can't sell'... K-Memory Spicy: SK hynix ADR -9% | LG Energy Solution supplies hundreds of billions to Google ESS complex | Kwon Soon-woo, 3PRO TV Reporter

Summary

3PRO TV reporter Kwon Soon-woo presents key market news: memory stocks dropped sharply in the US despite persistent supply shortages expected to last until 2028. He highlights UBS and ASML's bullish demand signals, while CXMT's capacity data appears less threatening. Additionally, LG Energy Solution secured a massive ESS battery order from Google, easing factory utilization concerns.

• SK hynix ADR fell ~9%, Micron and Philadelphia Semiconductor Index also down amid incoherent market narratives.
• UBS sees memory supply shortage through 2028, with demand growth far exceeding supply; ASML confirmed strong memory customer expansion plans.
• CXMT's wafer capacity target of 600K/month by 2030 is lower than feared, suggesting Chinese supply expansion faces limits.
• LG Energy Solution landed a multi-billion-won ESS deal with Google's major solar project, boosting North American factory utilization.
• ESS orders are piling up (cumulative 140 GWh), resolving earlier overcapacity concerns despite lower margins than EV batteries.
• Korea's base rate is likely to rise to 2.75%, but the move is priced in and won't disrupt markets; won/dollar has stabilized around 1,480s.
• Copper foil companies face dual AI and battery demand, but low battery margins may push them toward AI, adding pressure on battery makers.