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000660.KRX
SK Hynix
Information Technology · Semiconductors

South Korean semiconductor supplier and large memory chip maker specializing in DRAM and NAND flash memory.

HQ: South KoreaListed: South Korea

Historical AI Opinions

Audit every published iPulse AI forecast batch and immutable historical research document for SK Hynix.

Historical AI Opinions

SK Hynix Inc (000660.KRX) AI OPINIONS & ADVISOR ANALYSIS

Read and compare the 5 individual AI Advisor deep-dive reports, including their forecast paths, ratings, price targets, and reasoning.

Updated on 19 March 2026Deep analysis 19 March 2026

PublisherRusslan Ramdowar
25 min readAudit All Past Forecasts

1. Investment Thesis — Base Case

SK Hynix is a Paradigm Shifter transitioning into the dominant acceleration phase of the von Neumann bottleneck-breaking S-curve. The baseline expectation is a violent but upward-trending trajectory where the massive outweighs the inevitable phases. The market will gradually realize that is structurally different from legacy DRAM.

  • secures >50% through the 2028 cycle. - 58% provide the to out-spend Samsung without debt.
  • Late 2026 sees valuation overshoot as Vera Rubin deploys globally. - 2027 to 2028 brings a brutal but healthy .
  • Net cycle outcome is a substantially higher as AI workloads prove structurally permanent.
  • The implied must respect the upper bounds of semiconductor TAMs, reaching ~$750B at peak before settling into a mature tech giant multiple.

Historical prices and published forecast

Historical prices and published forecastObserved prices and the selected advisor's published projection share a split-adjusted price basis. Prices after the forecast start are later observations, not information known at publication. Forecasts are uncertain. Values in KRW.-136.1K497.2K1.13M1.76M2.4MMar 2021Sep 2023Mar 2026Sep 2028Mar 2031Forecast starts
  • Observed price
  • Published advisor forecast
Observed prices and the selected advisor's published projection share a split-adjusted price basis. Prices after the forecast start are later observations, not information known at publication. Forecasts are uncertain. Values in KRW.
View chart values
Historical prices and published forecast — published chart values
SeriesDateValue (KRW)
Observed price2021-03-17140,000
Observed price2021-03-29132,000
Observed price2021-04-06143,000
Observed price2021-04-18138,000
Observed price2021-05-08127,875
Observed price2021-05-16117,500
Observed price2021-06-05128,750
Observed price2021-06-21122,000
Observed price2021-06-25128,500
Observed price2021-07-15123,500
Observed price2021-07-31115,000
Observed price2021-08-04121,000
Observed price2021-08-12100,500
Observed price2021-09-13106,875
Observed price2021-09-17104,214
Observed price2021-09-29100,000
Observed price2021-10-1192,800
Observed price2021-10-27101,500
Observed price2021-11-20114,750
Observed price2021-11-28114,750
Observed price2021-12-18122,250
Observed price2021-12-30131,000
Observed price2022-01-07124,875
Observed price2022-01-27119,000
Observed price2022-02-12131,000
Observed price2022-02-16130,500
Observed price2022-03-12118,000
Observed price2022-03-20123,750
Observed price2022-04-09112,500
Observed price2022-04-21113,000
Observed price2022-04-25108,000
Observed price2022-05-19113,000
Observed price2022-05-27104,000
Observed price2022-06-08104,750
Observed price2022-07-0288,750
Observed price2022-07-0693,200
Observed price2022-07-22101,875
Observed price2022-08-0397,000
Observed price2022-08-1192,550
Observed price2022-08-3195,200
Observed price2022-09-2484,250
Observed price2022-09-2881,200
Observed price2022-10-1895,800
Observed price2022-10-2693,900
Observed price2022-11-0382,700
Observed price2022-11-2385,200
Observed price2022-12-1779,600
Observed price2022-12-2975,000
Observed price2023-01-1086,650
Observed price2023-01-1885,750
Observed price2023-02-1193,475
Observed price2023-02-1593,150
Observed price2023-03-1184,950
Observed price2023-03-1579,100
Observed price2023-03-3188,600
Observed price2023-04-1290,300
Observed price2023-04-2487,200
Observed price2023-05-1086,900
Observed price2023-06-03109,840
Observed price2023-06-07108,000
Observed price2023-06-15119,000
Observed price2023-07-09112,600
Observed price2023-07-29123,700
Observed price2023-08-02119,500
Observed price2023-08-14114,900
Observed price2023-09-11115,950
Observed price2023-09-15121,400
Observed price2023-09-27115,050
Observed price2023-10-17130,000
Observed price2023-10-29117,700
Observed price2023-11-06133,000
Observed price2023-12-08127,500
Observed price2023-12-16138,350
Observed price2024-01-01142,067
Observed price2024-01-13133,600
Observed price2024-02-02132,600
Observed price2024-02-10144,000
Observed price2024-02-14149,350
Observed price2024-03-05165,800
Observed price2024-03-17160,700
Observed price2024-04-02186,300
Observed price2024-04-14188,250
Observed price2024-04-22171,575
Observed price2024-05-08177,500
Observed price2024-05-28202,500
Observed price2024-06-05193,700
Observed price2024-06-29235,375
Observed price2024-07-11236,000
Observed price2024-07-27191,075
Observed price2024-08-04165,400
Observed price2024-08-20199,700
Observed price2024-08-28179,300
Observed price2024-09-09157,000
Observed price2024-09-25172,200
Observed price2024-10-19193,450
Observed price2024-11-08200,500
Observed price2024-11-16172,350
Observed price2024-12-02158,800
Observed price2024-12-14177,700
Observed price2024-12-22168,500
Observed price2025-01-11201,375
Observed price2025-01-23223,250
Observed price2025-02-04194,850
Observed price2025-02-20214,000
Observed price2025-03-04186,100
Observed price2025-03-24211,500
Observed price2025-04-05179,700
Observed price2025-04-09165,000
Observed price2025-05-03186,717
Observed price2025-05-07189,583
Observed price2025-05-31207,100
Observed price2025-06-04217,500
Observed price2025-06-28284,375
Observed price2025-07-14297,500
Observed price2025-07-26265,125
Observed price2025-08-15273,800
Observed price2025-08-23252,250
Observed price2025-08-27260,000
Observed price2025-09-20352,000
Observed price2025-09-28342,000
Observed price2025-10-18468,875
Observed price2025-10-22478,750
Observed price2025-11-11611,500
Observed price2025-11-23532,750
Observed price2025-12-09582,000
Observed price2025-12-17541,000
Observed price2026-01-10752,500
Observed price2026-01-26736,000
Observed price2026-01-30909,000
Observed price2026-02-11860,000
Observed price2026-02-27987,800
Observed price2026-03-191,000,000
Observed price2026-03-31807,000
Observed price2026-05-021,000,000
Observed price2026-05-301,000,000
Observed price2026-06-271,000,000
Observed price2026-07-051,000,000
Observed price2026-07-092,186,000
Observed price2026-07-291,401,000
Observed price2026-08-221,710,333
Observed price2026-09-031,596,000
Observed price2026-09-111,812,000
Observed price2026-09-211,868,000
Observed price2026-09-221,840,000
Observed price2026-09-231,862,000
Published advisor forecast2026-03-191,000,000
Published advisor forecast2026-06-191,080,000
Published advisor forecast2026-09-191,209,600
Published advisor forecast2026-12-191,270,080
Published advisor forecast2027-03-191,219,277
Published advisor forecast2027-06-191,121,735
Published advisor forecast2027-09-191,054,431
Published advisor forecast2027-12-191,033,342
Published advisor forecast2028-03-191,074,676
Published advisor forecast2028-06-191,128,409
Published advisor forecast2028-09-191,207,398
Published advisor forecast2028-12-191,243,620
Published advisor forecast2029-03-191,218,748
Published advisor forecast2029-06-191,267,498
Published advisor forecast2029-09-191,343,547
Published advisor forecast2029-12-191,397,289
Published advisor forecast2030-03-191,425,235
Published advisor forecast2030-06-191,382,478
Published advisor forecast2030-09-191,410,128
Published advisor forecast2030-12-191,452,431
Published advisor forecast2031-03-191,510,529

2. Scenarios & Signals

Bull case

If the closes and key opportunities materialize, SK Hynix transcends hardware component status to become the foundational architectural partner of the AGI era.

  • Exclusive TSMC integration locks Samsung out of the high-end inference market entirely.
  • Sovereign AGI races eliminate the 2027 , smoothing the demand curve.
  • scales beyond $120B by 2028, with SK Hynix maintaining 65% share.
  • Legacy DRAM operations are successfully spun off or minimized, purifying the margin profile.
  • The stock violently re-rates to an Nvidia-esque forward P/E, doubling the market cap.

Bear case

If the von Neumann architectural patch fails or revolt against the Nvidia tax, SK Hynix reverts to a .

  • Hyperscaler pivot to heavily utilizes cheaper LPDDR, bypassing entirely.
  • Samsung leverages infinite capital to achieve acceptable yields, starting a race to the bottom in pricing.
  • The 16-Hi MR-MUF physics fail, forcing a massive write-down of packaging IP.
  • compress back to 15-20% as becomes commoditized.
  • The stock crashes as peak-cycle earnings evaporate, punishing late investors.

Current crowd narrative

The noisy market currently prices SK Hynix as a cyclical hardware play enjoying a temporary, euphoric supercycle driven by the Nvidia AI halo effect. Sell-side analysts acknowledge the spectacular 58% margins and Q4 2025 earnings beat but remain anchored to historical memory cycles, frantically trying to time the inevitable 'peak earnings' cliff. The consensus narrative is that Samsung's entry into will commoditize the space by 2027, turning SK Hynix back into a volatile, capital-intensive price taker. The crowd assumes this is simply another DRAM cycle on steroids.

Alpha-gap assessment

The is that has permanently decoupled from the commodity memory cycle. The crowd erroneously applies standard DRAM decay curves to a component that is fundamentally a structural logic bottleneck. SK Hynix's MR-MUF packaging is not just manufacturing; it is an impenetrable thermodynamic moat. By pulling mass production forward to early 2026, they are resetting the S-curve before competitors even cross the inflection point of the previous one. The market is mispricing the duration of their pricing monopoly and treating a permanent architectural paradigm shift as a transient demand shock.

Convergence catalyst

The closing of the will be triggered by Q4 2026 and Q1 2027 earnings reports demonstrating that commands even higher structural margins than HBM3E, despite Samsung's market entry. When the market realizes the triopoly is maintaining capacity discipline and is immune to legacy DRAM price wars, the stock will re-rate to an advanced logic multiple.

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