The Memory Bottleneck Divide: SK Hynix Sells out to Tier-1s, Micron Absorbs the Spills

Impact · against what's priced in

The news is largely neutral as the market has already priced in the current HBM sell-outs and near-term revenue guides for Micron and SK Hynix. While Micron's HBM4E co-design with NVIDIA is a positive development, it currently remains a potential shift in market share rather than a realized earnings reset that the market is willing to pay for.

MU+0.00

Already priced in

The price assumes

The complete sell-out of HBM3E supply through 2027