SK Hynix Jumps 5.4% as CoreWeave Outlook Lifts AI Trade, but Analysts Split on How Long the Memory Squeeze Lasts
Published on 11/11/2026 at 12:51 | Editorial boerse-global.de
SK Hynix shares climbed 5.4% on Wednesday, riding a broad recovery in semiconductor stocks after AI cloud provider CoreWeave delivered quarterly results and a raised full-year revenue forecast that bolstered confidence in continued AI infrastructure spending. Foreign investors bought KOSPI shares for a second straight session, helping South Korean chip names erase early losses.
CoreWeave reported third-quarter 2026 revenue of $3.66 billion and lifted its full-year guidance to a range of $13.0 billion to $13.3 billion. Reuters attributed the SK Hynix advance to investors' reaction to that outlook, which media reports said shored up expectations for further AI investment.
A Split Verdict on the Memory Cycle
The rally lands against a sharp divide among analysts over how long the current memory boom can run. Morgan Stanley cut its price target on SK Hynix to 1.6 million won from 2.6 million won — a reduction of roughly 38% — in a move reported Monday. The bank cited a combination of additional memory supply and delayed data-center projects, focusing less on imminent business and more on earnings power once the present scarcity eases.
Nomura, by contrast, kept its target at 4.7 million won and expects memory to remain tight through at least 2028. The opposing calls hinge on whether new production capacity will outpace the memory needs of AI data centers.
Should investors sell immediately? Or is it worth buying SK Hynix?
What stands out is that Morgan Stanley simultaneously raised its 2027 operating profit forecast for SK Hynix by 13%. The bank is therefore more bullish on the near term while taking a dimmer view of how long the good times last. For 2029–2035, it cut its expected average operating margin to 28% from 53%. Its infrastructure assumptions also build in that some planned data-center capacity will arrive later than scheduled — a drag on SK Hynix if memory orders slip while new production lines ramp up.
Capacity Locked In, Prices Still Tied to the Market
SK Hynix said on October 28 that it had secured long-term agreements covering more than 50% of its 2027–2028 production capacity, and it expects HBM4 to become its main product in the fourth quarter of 2026. According to the Korea Herald, the company has struck deals with 14 major customers for more than half of planned output in that period, though pricing remains linked to market rates. How profitable those shipments prove will depend on future supply conditions — precisely the crux of the analyst dispute.
The company is also leaning on AI in its own chip development. Media reports say SK Hynix uses NVIDIA technology and GPU acceleration to speed up memory-chip simulations, including the development of etching processes and analyses of heat generation and elastic deformation.
SK Hynix at a turning point? This analysis reveals what investors need to know now.
Washington Holds Up Dalian Tool Licenses
One regulatory obstacle stands in the way of expanding production in Dalian. Reuters reported on November 3 that US authorities had not yet approved export licenses for the manufacturing equipment required there. The holdup also complicates plans by SK Hynix subsidiary Solidigm for two NAND plants in Marcy, New York, where Solidigm intends to invest roughly $45 billion.
For investors, the margin trajectory remains the key test. Nomura's optimistic case requires sustained scarcity, while Morgan Stanley's more cautious scenario would gain traction if the memory market loosens noticeably.
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SK Hynix Stock: New Analysis - 11 November
Fresh SK Hynix information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
