#SK海力士跌近7% #美股财报季 The decline in storage and AI chip stocks this time was mainly due to profit-taking after a strong rally, prompted by the U.S. midterm election results. Storage demand itself has not noticeably weakened; the market is reassessing the pace of AI data center construction.
On November 5, SK Hynix fell about 6.7%, while Samsung Electronics also dropped nearly 6%.
Why it looks more like profit-taking
Big gains and crowded positioning: SK Hynix and Samsung were the stocks with the largest net foreign selling this year, as investors rebalanced their portfolios.
Orders are still there: SK Hynix said its DRAM and HBM capacity is nearly sold out through 2029.
The shortage isn’t over: The industry expects the memory shortage to continue until around 2030.
What the market is reassessing
Data center approvals may tighten: After Democrats won both chambers, Goldman Sachs estimated that about 45% of new capacity could be affected.
New projects may be delayed: Rising grid costs and stricter approvals could slow cloud providers’ expansions.
Returns on AI investment questioned: Tech giants are issuing debt to fund AI, making some investors worry they won’t earn that money back.
So for now, it’s “valuation comes down first,” not “the AI storage thesis is broken.”
The main things to watch next are whether U.S. data center investment really slows and whether HBM orders can keep capacity fully utilized.#WCTCS9 $SK Hynix
On November 5, SK Hynix fell about 6.7%, while Samsung Electronics also dropped nearly 6%.
Why it looks more like profit-taking
Big gains and crowded positioning: SK Hynix and Samsung were the stocks with the largest net foreign selling this year, as investors rebalanced their portfolios.
Orders are still there: SK Hynix said its DRAM and HBM capacity is nearly sold out through 2029.
The shortage isn’t over: The industry expects the memory shortage to continue until around 2030.
What the market is reassessing
Data center approvals may tighten: After Democrats won both chambers, Goldman Sachs estimated that about 45% of new capacity could be affected.
New projects may be delayed: Rising grid costs and stricter approvals could slow cloud providers’ expansions.
Returns on AI investment questioned: Tech giants are issuing debt to fund AI, making some investors worry they won’t earn that money back.
So for now, it’s “valuation comes down first,” not “the AI storage thesis is broken.”
The main things to watch next are whether U.S. data center investment really slows and whether HBM orders can keep capacity fully utilized.#WCTCS9 $SK Hynix
