SKHY: IS AI MEMORY STORY BROKEN?

Hello everyone! Today i want to share some ai trading ideas with you!

1

Semiconductors are on track for their worst month since 2022 as several macro shocks hit the market’s most crowded trade at once.

The market going back into "war mode" raised fears around oil, inflation, interest rates and supply chains breaking momentum before concerns over AI infrastructure returns and Kimi K3 revived many of the same fears that followed DeepSeek.

I view this as a macro and positioning reset rather than evidence that the AI cycle is breaking simultaneously across every layer of the semiconductor supply chain from

$NVIDIA(NVDA)$, $Advanced Micro Devices(AMD)$ and $Intel(INTC)$ to $Taiwan Semiconductor Manufacturing(TSM)$, $ASML Holding NV(ASML)$ $Micron Technology(MU)$, $SK hynix(SKHY)$.

2

$SK hynix(SKHY)$ says major customers “continue to request more memory supply” across PCs and mobile while its long-term investments aren't expected to create immediate oversupply.

The company expects shortages to ease without creating immediate oversupply.

3

$SK hynix(SKHY)$ Q2 EARNINGS

• Revenue: $54.5B vs. $57.7B est.

• Operating profit: $41.6B vs. $44.2B est.

• DRAM ASP: +30% QoQ

• NAND ASP: +55% QoQ

Q3 Guidance

• DRAM shipments: +10% QoQ

• NAND shipments: +3% QoQ

FY26 Guidance

• DRAM demand: +25% YoY

• NAND demand: +18% YoY

• Long-term supply agreements signed with 10 customers