SK Hynix Set to Debut on Nasdaq Amid Memory Boom
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 52 minutes ago
0mins
Source: CNBC
- Nasdaq Listing Plans: SK Hynix is set to trade on Nasdaq under the ticker SKHY on Friday, aiming to raise approximately $29 billion through American depositary receipts to fund new factories and equipment in the U.S.
- Market Leadership: The company is projected to capture over 50% of the high-performance memory market in 2023, benefiting from surging AI demand, with annual revenue expected to grow from $65 billion in 2023 to $235 billion by 2026.
- U.S. Expansion Plans: SK Hynix is constructing a $4 billion new facility in Indiana, scheduled for completion in 2028, focusing on advanced packaging technology, and expects to receive up to $458 million in funding from the U.S. CHIPS Act, further solidifying its position in the global semiconductor market.
- Long-Term Contract Strategy: The company is securing long-term memory contracts with major clients to lock in prices and orders, ensuring effective management of production and supply chain risks amid sustained AI demand, thereby enhancing its competitive edge.
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Analyst Views on ASML
Wall Street analysts forecast ASML stock price to fall
12 Analyst Rating
12 Buy
0 Hold
0 Sell
Strong Buy
Current: 1747.280
Low
1385
Averages
1583
High
1911
Current: 1747.280
Low
1385
Averages
1583
High
1911
About ASML
ASML Holding N.V. is a holding company based in the Netherlands. The Company operates through its subsidiaries in the Netherlands, the United States, Italy, France, Germany, the United Kingdom, Ireland, Belgium, South Korea, Taiwan, Singapore, China, Hong Kong, Japan, Malaysia and Israel. The Company operates through one business segment which is engage in development, production, marketing, sales, upgrading and servicing of advanced semiconductor equipment systems, consisting of lithography, metrology and inspection systems. The Company offers TWINSCAN systems, equipped with lithography system with a mercury lamp as light source (i-line), Krypton Fluoride (KrF) and Argon Fluoride (ArF) light sources for processing wafers for manufacturing environments for which imaging at a small resolution is required. TWINSCAN systems also include immersion lithography systems (TWINSCAN immersion systems).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Market Demand Forecast: Analyst David Dai predicts ASML will sell 91 and 113 semiconductor manufacturing machines in 2027 and 2028, respectively, at higher prices than this year, with projected revenue reaching €42.7 billion ($48.8 billion) by 2030, reflecting a 30% annual growth rate.
- AI Market Impact: Despite investor unease regarding Samsung's factory expansions, ASML's long-term outlook remains positive due to the ongoing growth in the artificial intelligence market, which is expected to drive continued sales growth.
See More
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- Funding for Expansion: Proceeds from the offering will be directed towards building chip factories in South Korea and acquiring advanced equipment, including an extreme ultraviolet lithography scanner from ASML, aiming to address the current supply constraints in AI memory and secure a competitive edge.
- Changing Investment Choices: The listing of SK Hynix provides U.S. investors with a direct investment opportunity in a leading high-bandwidth memory manufacturer, becoming the second pure-play option after Micron, although market volatility may pose risks in the early trading days.
See More
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- Strong Investor Interest: Major investors, including Baillie Gifford, have indicated interest in purchasing up to $7 billion worth of American Depositary Receipts (ADRs) before pricing, showcasing high recognition of SK Hynix's business performance and future growth potential.
- Clear Use of Proceeds: The funds raised will be allocated to building chip factories in South Korea and acquiring advanced equipment, including an extreme ultraviolet lithography scanner from ASML, aimed at addressing the current supply constraints in AI memory and maintaining a competitive edge.
- Increased Market Options: The listing provides U.S. investors with a direct investment opportunity in high-bandwidth memory, becoming the second major memory manufacturer after Micron, thereby enriching investment portfolios, although caution is advised regarding the volatility of newly listed stocks.
See More
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- Growing Market Demand: According to Fortune Business Insights, the demand for advanced process nodes is projected to grow at an annual rate of nearly 16% through 2034, providing ASML with a stable long-term growth trajectory and reinforcing its leadership position in the semiconductor industry.
- Optimistic Earnings Outlook: ASML is expected to exceed Wall Street's revenue expectations in its upcoming Q2 earnings report on July 15, having raised its annual revenue guidance to €36 billion to €40 billion in April, reflecting strong market demand.
- Unique Technological Advantage: As the sole manufacturer of extreme ultraviolet (EUV) machines, ASML holds an irreplaceable position in advanced chip manufacturing, particularly in the production of AI data center chips and high-efficiency memory chips, further driving its business growth.
- Strong Stock Performance: ASML's stock has surged by 50% so far in 2026, reflecting strong market confidence in its future growth potential, and despite a high P/E ratio of 48, analysts remain optimistic about its long-term earnings growth prospects.
See More
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- Revenue Guidance Upgrade: In its Q4 2025 report, ASML raised its annual revenue guidance from €34 billion to €36 billion, reflecting a robust trend of semiconductor market demand outpacing supply, underscoring the company's leadership in the industry.
- Significant Technological Edge: As the sole manufacturer of EUV machines, ASML enables chipmakers to produce more efficient chips at nodes of 7nm and below, with demand for advanced process nodes projected to grow nearly 16% annually through 2034.
- Optimistic Investment Outlook: Despite ASML's high price-to-earnings ratio of 48, analysts have consistently upgraded their long-term earnings growth expectations, indicating the company's potential for sustained growth in the advanced chip sector, which may further drive stock price appreciation.
See More
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- Investment Themes Focus: Goldman recommends focusing on five themes: infrastructure, basic materials, aerospace and defense, manufacturing, and consumer platforms, with buy-rated stocks including Enel, Airbus, and Volvo, reflecting strong investment confidence in these areas.
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