JPMorgan Chase: Expects Hynix Annual HBM Contract Price Increase to Be Below Market Expectations

August 11th, JPMorgan's Asia-Pacific Tech Commentary pointed out that investors generally expect SK Hynix's shareholder return to be at least 50% of Samsung Electronics' level, based on management's indication of an update before the end of the third quarter.

In addition, the market also anticipates that the pricing of HBM contracts for the 2027 fiscal year by Hynix will increase by over 50% due to the tight supply-demand situation in the bulk D5 market. However, JPMorgan analyst Jay holds a more conservative view, predicting that the annual contract price increase will be less than 40%, considering Nvidia's strategic importance and SK Hynix’s ability to reprice annually.