Samsung, SK Hynix HBM Exports Surge in Q1: Bernstein

Key Takeaways: HBM Exports Exceed Expectations

Samsung Electronics and SK Hynix demonstrated stronger-than-expected high-bandwidth memory export growth in the first quarter of 2024. According to data from Bernstein, overall HBM exports for the quarter rose 15% quarter-over-quarter, overcoming a weak performance in January.

Detailed Performance Breakdown

Samsung’s HBM exports remained solid, with shipments from its South Chungcheong packaging facility increasing 19% quarter-over-quarter. This performance aligns with Bernstein's revenue growth forecast of 17% for the company's HBM division.

SK Hynix also posted very strong results, with exports from its North Chungcheong and Icheon sites rising 13% quarter-over-quarter. This figure surpassed Bernstein's model, which had initially predicted a decline.

Pricing Stability and Future Outlook

The data confirmed that HBM prices have remained stable, unaffected by the recent volatility in conventional memory prices. Value-per-weight metrics showed little change, indicating consistent pricing.

Concluding Analysis

Bernstein anticipates continued strong demand for HBM over the next two years, driven by the AI sector. The firm maintains a constructive outlook on Samsung and SK Hynix, highlighting their key positions in the high-performance memory market.

FAQ

Q: What is HBM?
A: High-Bandwidth Memory is a high-performance RAM interface for 3D-stacked memory, primarily used with high-performance graphics accelerators, network devices, and supercomputers.

Q: Why was Q1 2024 HBM export growth significant?
A: The growth surpassed analyst expectations and signaled robust, sustained demand from the AI industry, positioning key suppliers like Samsung and SK Hynix for strong future performance.

Source: Investing.com