Jim Cramer Says SK Hynix Analysts Must Raise Numbers: What It Means for the Biggest Nasdaq IPO in Years - Yahoo Finance

Jim Cramer urged SK Hynix analysts to raise their estimates ahead of the company's Nasdaq IPO, citing strong performance by Micron Technology (MU) as a benchmark. Micron beat consensus by 18% in Q3 20... Read original →

SK Hynix’s Nasdaq IPO signals a strategic realignment of the global AI memory supply chain, not merely a capital raise. Technically, tight integration between HBM3E and TSMC’s CoWoS packaging is pressuring OSATs like ASE to reallocate capacity—any yield shortfall in SK’s TSV processes could delay NVIDIA’s Blackwell ramp. Regulatory risks are mounting: tighter U.S. export controls under the CHIPS Act may compel SK to build domestic HBM fabs, inflating capex. Micron’s 58% gross margin has cornered Samsung into abandoning DRAM price wars and fast-tracking HBM4 R&D. Over the next 18 months, the HBM market will shift from broad shortages to structural oversupply in legacy DDR5, while firms mastering silicon interposers and hybrid bonding will dictate pricing. An over-optimistic IPO valuation, however, could expose SK’s overreliance on packaging capacity in Taiwan, China.