The article says Nvidia (NVDA) has grown strongly on its AI chip dominance, while analysts see SK Hynix (SKHY) as having potentially larger gains. SK Hynix has a median 12-month price target of $250 from 14 analysts, implying about 82% upside, versus $320 for Nvidia, implying about 52%. SK Hynix's Q2 revenue rose 257% year over year and net profit rose 557%, compared with 106% revenue growth and 120% non-GAAP earnings growth for Nvidia in fiscal Q2. Counterpoint Research estimates SK Hynix holds half of the HBM market, and Bloomberg Intelligence projects HBM revenue of $641 billion by 2030, up from a previous $260 billion estimate. Bank of America notes that HBM requires 3x the wafer capacity of conventional DRAM, which could keep the memory market undersupplied.
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