South Korean memory chip titan SK Hynix is making its Nasdaq debut, giving U.S. investors direct access to Nvidia Corp.’s (NASDAQ:NVDA) top memory supplier. But despite this listing, Futurum Equities’ Chief Market Strategist Shay Boloor is sticking with domestic rival Micron Technology Inc. (NASDAQ:MU), citing structural instability in the Korean markets as a major deterrent.
The ‘Extreme’ Memory Cycle
SK Hynix is preparing to sell 17.79 million American depositary receipts (ADRs) this Friday under the ticker SKHY. The move unlocks a massive pure-play AI memory stock for Wall Street, giving investors an alternative to Micron.
The demand for high-bandwidth memory (HBM) has skyrocketed, heavily favoring SK Hynix. As Futurum CEO Daniel Newman noted on the Futurum Equities Podcast, “SK is definitely Nvidia’s biggest provider, and it arguably is most strategic.”
This strategic positioning has fueled record-breaking profitability. Earlier on X, Boloor highlighted the company’s financial momentum, noting, “SK Hynix is expected to hit a 91% DRAM gross margin in Q2 showing how extreme this memory cycle has become.”
‘Wonky’ Markets and the Micron Advantage
Despite the allure of a “trillion dollar listing,” Boloor remains cautious about the underlying mechanics of SK Hynix’s home market, opting to keep his capital in U.S.-based Micron.
“I think the Nvidia-backed nature of SK is great. I don’t love the ADR nature of it,” Boloor explained on the podcast. “I just think something wonky is happening in the Korean markets right now… So, I’m just gonna stick with Micron.”
Newman shares the preference for Micron, though for geopolitical reasons. Pointing to supply chain security and domestic advantages, Newman stated, “I like Micron the most because I would call its shock risk the lowest because there’s no tariff risk. It’s US-based.”
Sizing Up the AI Buildout
While the broader semiconductor sector recently faced a sudden drawdown—which Boloor described as “purely just profit taking”—the long-term thesis for both memory giants remains firmly intact.
For investors weighing the two heavyweights, Newman emphasized the staggering longevity of the current AI infrastructure cycle, noting that SK Hynix still has “at least four more years of runway selling everything it can make at any margin it wants.”
How Has MU Performed In 2026?
Micron shares were up 232.43% year-to-date, down 0.05% over the last month, and higher by 662.58% over the year. It closed 1.11% higher at $948.80 per share on Wednesday, and was down 0.78% in overnight trading.
Benzinga’s Edge Stock Rankings indicate that MU maintains a strong price trend in the short, medium, and long terms, with a good growth score.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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