The Samsung Double Long ETF surged more than 6%. At the time of writing, it was up 6.2%, trading at HK$94, with a turnover of HK$1.041 billion. On the news front, on April 23, SK Hynix reported its first-quarter 2026 earnings. Sales surpassed the 50 trillion won mark for the first time, operating profit reached 37.6 trillion won, and the operating profit margin hit 72%, setting the highest record since the company's inception. In its earnings report, the company stated that the proliferation of memory efficiency technologies will enhance the economic viability of AI services, thereby driving an expansion in overall service scale, which will further boost demand for memory. Based on this, the company anticipates that both the DRAM and NAND flash memory markets will maintain a favorable pricing environment. A Goldman Sachs research report noted that since the beginning of this year, the demand surge driven by AI servers is pushing the already tight supply chain from the start of the year towards a more severe shortage. The report indicated that current server application demand is robust; industry-wide capacity additions are limited, and new capacity is prioritized for High Bandwidth Memory (HBM), compressing the supply growth for traditional memory; overall industry inventory levels are extremely low, further constraining supply elasticity. Driven by these three major factors, Goldman Sachs has significantly raised its 2026 DRAM price increase forecast from the previous approximately 150% to a range of +250% to +280%, and its NAND price increase forecast from approximately 100% to a range of +200% to +250%.
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