SK Hynix Five reasons to expect further stock rally Accessible version Reiterate Rating: BUY | PO: 800,000 KRW | Price: 558,000 KRW We present why share price can reach new W800,000 PO We highlight five reasons why SK Hynix's share price can reach our new PO of W800,000 (2026E P/B: 3.6x vs old 3.3x for W700k): (1) super-cycle with strongly rising L-T orders from US Big Tech; (2) newly settled HBM4 contract with favorable price (high margin sustainable); (3) conventional DRAM and NAND price strengths; (4) no ...