South Korean brokerages are divided on the outlook for SK Hynix: the core disagreement centers on whether AI memory demand can drive long-term growth.

Deep Tide TechFlow News, July 10 - According to Korean media Etoday, Korean securities firms have shown a clear divergence in their outlook for SK Hynix, with the core disagreement centered on whether AI memory demand can drive long-term growth. KB Securities maintains a "Buy" rating on SK Hynix. Based on TSMC's 1997 ADR listing in the U.S., KB Securities judges that SK Hynix's ADR listing will increase global investor participation and is expected to drive a simultaneous revaluation of both the ADR and its domestic shares in Korea. KB Securities also estimates that global DRAM and NAND wafer capacity growth in 2027 will be only 7% and 4%, respectively, lower than demand growth of 17% and 19%, and that the memory supply tightness may further intensify compared to 2026.

BNK Investment & Securities, however, believes that the logic of hyperscalers continuously increasing AI infrastructure investment is weakening, and that the ADR listing will not significantly change the valuation of SK Hynix's domestic shares.

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