Woofun AI reports that HSBC analysts argue fears regarding the conclusion of the storage supercycle are premature, as AI-driven smartification continues to enhance office productivity and reshape workflows. Improving profit margins for AI services sustain robust cloud spending, while competition among major providers ensures continued expansion of computing power infrastructure.

With the gradual market introduction of next-generation high-bandwidth memory HBM4, upward pressure on HBM product prices is expected to persist. Given SK Hynix's significant exposure to this segment, HSBC favors the stock among South Korean tech equities, projecting that the company will maintain an HBM market share between 50% and 55% following large-scale HBM4 adoption in 2027.