Medium2026-09-11Short term · NeutralLonger term · Neutral

DRAM Price Rally Puts Samsung, SK Hynix in Dilemma; HBM Shift May Open Door for CXMT

Rising DRAM contract prices put Samsung and SK Hynix in a dilemma: higher prices boost margins but may accelerate customer shifts to HBM or nurture China's CXMT. If CXMT gains share, Korean makers' long-term pricing power could weaken, posing a potential headwind for SK Hynix shares.

Impact assessments are model-generated from public coverage, for reference only and not investment advice.

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비즈니스포스트 · 09-11 10:12 KST

Rising DRAM contract prices are putting Samsung and SK Hynix in a bind: shifting capacity to high-margin HBM tightens general DRAM supply and lifts prices further, but cedes share to China's CXMT. Near-term earnings look supportive, yet the shifting competitive landscape poses a medium-term risk to Hynix shares.