Memory chipmakers eye 'supercycle' as shares jump 30%
Shares of SK Hynix, Samsung and Micron rose about 30 percent in a week as AI data centre demand outpaced supply. Analysts call it the strongest memory 'supercycle' since 2017. Tight conditions could extend into 2027.
Memory makers led equity gains last week. In Seoul, SK Hynix rose 31 percent and Samsung Electronics gained 22 percent. In the US, Micron Technology advanced 28 percent. The move was driven by a wave of bookings for high-bandwidth memory modules used in AI data centres.
Morgan Stanley analysts said contract prices for HBM3E products in the third quarter of 2026 are up 65 percent year on year. Order books from Nvidia, Amazon Web Services and Microsoft now extend into the 2027 calendar. SK Hynix said it would double output at its new Cheongju plant.
The KOSPI index reached a record high, lifted by the chip-heavy basket. Bank of America raised its Micron price target to 175 dollars from 145. More cautious voices argue the rally has overshot and warn of a possible correction toward late 2025.
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