SK Hynix shares surge 13% on AI hopes as US tech stocks resume their climb

Kim Sunwoo, a senior analyst at Meritz Securities, said suppliers of DRAM chips, used for memory in computers, servers and mobile devices, were currently meeting only about 75% to 80% of demand as shortages intensified in the second half of 2026.

That fulfilment rate could fall to the 60% range in 2027, Kim said, adding that suppliers would still be able to meet only around 70% of demand even after excluding more speculative orders.

"With supply shortages set to deepen, memory prices and earnings are likely to continue improving, supporting a strong rebound in the share price," Kim said.

Echoing that view, HSBC said in a recent note that improving profitability of AI services should continue to underpin strong cloud spending.

The brokerage also said the industry's shift toward three- to five-year long-term supply agreements should improve earnings visibility over the next two to three years and reduce earnings volatility.