Citi Maintains SK Hynix Target Price at 3 Million Won... "Increase Weight from October"

‌Peter Lee, Co-Head of Global Tech & Telecom Research at Citigroup, advised gradually buying major memory semiconductor stocks starting in October, predicting a severe semiconductor shortage due to AI-related demand next year.
- He stated that market concerns regarding slowing demand are exaggerated, forecasting that High Bandwidth Memory (HBM) demand next year will be much stronger than market expectations, considering large-scale orders from companies like Broadcom and Google.
- Citi predicts that HBM bit demand in 2027 will reach 75.2 billion gigabits, a 62% year-on-year increase, significantly exceeding the market consensus (approximately 30% increase).
- For SK Hynix, Citi issued a Buy rating with a target price of 3 million won.
- Meanwhile, regarding next year's HBM market share, Samsung Electronics (42%), which has made significant progress in cutting-edge HBM products, is projected to overtake SK Hynix (35%) to take the number one spot.
Source: Oh Seon-save