SK Hynix could be entering one of the most profitable memory cycles in history, and the opportunity will extend across the entire memory industry (Save this). UBS estimates that SK Hynix’s revenue could rise from 97 trillion won in 2025 to approximately 601 trillion won in 2027, while operating profit could approach 500 trillion won. The forecast highlights the enormous operating leverage in the memory business when demand remains stronger than supply. AI servers require far more memory than traditional servers, especially high bandwidth memory, which allows GPUs to access data quickly and operate at maximum performance. SK Hynix is one of the leading HBM suppliers, making it a direct beneficiary of the AI infrastructure buildout. However, the bull case is not limited to SK Hynix or HBM because Micron could benefit from growing demand for HBM3E, HBM4, conventional DRAM, and enterprise SSDs as cloud providers build larger AI data centers. Samsung could benefit across HBM, server DRAM, NAND flash, and solid state storage because of its scale across nearly every major memory category. UBS estimates that SK Hynix’s DRAM revenue could grow from approximately 269 trillion won in 2026 to 461 trillion won in 2027, while NAND revenue could increase from roughly 86 trillion won to 139 trillion won. This shows how the AI boom could expand beyond HBM and create a broader memory supercycle. Demand could rise because companies are buying more GPUs, while each new generation of AI accelerator requires more memory attached to it. At the same time, memory supply cannot be expanded instantly because HBM requires advanced manufacturing, complex stacking, and sophisticated packaging. If demand continues to exceed supply, SK Hynix, Micron, and Samsung could maintain higher prices and unusually strong profit margins. This is exactly why we’ve stayed so bullish on the memory supercycle at Milk Road. Milk Road subscribers are already up massively on our memory trades, and if you want to see exactly how we’re positioned around Micron, Samsung, and the rest of this cycle, check out the link below for more!