[Click eStock] "SK Hynix, an Opportunity for Greater Advancement"

On May 21, Daishin Securities stated regarding SK Hynix, "The company has proven itself to be a strong performer based on many indicators, and considering the value of its technology, it has ample potential to become an even more attractive stock." The firm maintained its investment rating of 'BUY' and set a target price of 280,000 won.

Daishin Securities projected that SK Hynix's first-mover advantage in HBM would continue for the time being. The company currently boasts the highest profitability among the three major DRAM manufacturers, thanks to its superior cost structure, and Daishin expects this advantage to persist even in the HBM4 era. The firm also assessed that the 1c DRAM process, which is expected to be a key revenue driver for the next two years, has successfully stabilized. Despite being in the initial ramp-up phase, SK Hynix is estimated to have achieved a yield rate in the high 80% range.

Daishin Securities evaluated that SK Hynix's risks are decreasing. The company is expected to switch to a net cash position within this year, thanks to improved profitability driven by HBM, and its NAND competitiveness is also believed to be improving. Analyst Ryu Hyungkeun commented, "Currently, the market is assigning a conservative valuation to SK Hynix due to its relatively high beta (stock price volatility compared to the market) amid various uncertainties. However, once the fog surrounding the cycle lifts and the upturn begins, I believe a revaluation will certainly occur."