Micron is the better company than SK hynix because its growth guidance and margins are stronger, though SK hynix is still a great company with further growth ahead. Micron's revenue grew 379% year over year versus SK hynix's 328%; its latest-quarter annualized GAAP P/E is about 7 versus 9 for SK hynix, or 6.5 for SK hynix after adjusting for currency and Kioxia charges. SK hynix's employee profit sharing weighs on its margins. x.com  x.com  x.com  x.com 

SK hynix's record earnings and five-year volume and spec agreements make its valuation look too low. Quarterly revenue reached KRW104.62T, up 32%, and operating profit hit $63B against a $785B market cap, below AMD's and less than half Tesla's. Its planned KRW100T (~$75B) shareholder return would be one of the world's largest, signaling conviction and unusual demand visibility. AI-inference 3D DRAM is coming by 2030; a reasonable valuation is all that is sought. x.com  x.com  x.com  x.com  x.com  … Show more

Buying the DRAM dip looks too risky now because CXMT's ambitious next-generation 4F plan and SK hynix's aggressive production expansion raise supply concerns for memory stocks such as Micron, SK hynix and Samsung. CXMT is unlikely to become a serious competitive threat, but it could still weigh on storage-stock sentiment. x.com  x.com 

SK hynix should reprice strongly because its blowout earnings make the case that memory is structurally different now. At the current earnings pace, it would earn back its entire market cap in two years; buybacks and dividends also return cash to shareholders and add to value. x.com 

SK hynix's five-year agreements with 14 major customers cover more than half its 2027-28 capacity, giving its memory earnings unusually long visibility. DRAM prices rose 28% and NAND 25% in the quarter, while operating profit reached 62.8 billion against 58.5 billion expected; Q4 DRAM shipments are guided up 25% from Q3. Those commitments support the view that demand is not peaking yet. Overweight, $400 target. x.com 

SK hynix's US listing trades at a 20% premium to Korea, hard to justify for a peak cyclical name on peak earnings whose estimates were just revised down. x.com 

SK hynix's strong pricing and secured capacity could push memory stocks higher. Per Wall St Engine, its Q3 DRAM ASP rose by a high-20s percentage quarter over quarter, while long-term agreements cover more than half of its 2027-28 capacity. Those figures support the memory upcycle. x.com 

SK hynix's expected widening supply-demand gap makes the 2028 downcycle implied by its valuation seem impossible. SK hynix management says its shares are undervalued relative to earnings and cash flow, and that assessment rings true. x.com  x.com 

Memory prices look to be at their peak for SK hynix and Micron as Chinese commoditization catches up. CXMT has made HBM3E and is now only one generation from HBM4, so China will scale its own DRAM and HBM production. Over several years, supply and innovation have always caught up with demand in past cycles, and US work on memory architectures that work around HBM or use less of it is already well underway. That contradicts @jukan05's reading that CXMT's progress tightens commodity DRAM. x.com  … Show more

A new sell-side forecast for SK hynix's Q4 operating profit strengthens its low-valuation case. The report looks for a 40% sequential rise to $88B, up 560% year over year. SK hynix might earn over $350B in operating profit in 2027 against an $800B market cap, or about 2x EV/operating profit after accounting for cash and its Kioxia stake. It could afford to buy back half its shares over three years. x.com