Live Recap 4: SK Hynix in Focus — Q&A Highlights on Timing, Risk, and Embracing AI
1. Live Review Introduction
Tiger Brokers livestream hosted by Vyann, featuring Ross Dong, Founding Partner at Morning Cloud Asset Management and founder of Gongxing Academy. With over 15 years of experience as an equity trader at firms including J.P. Morgan and KCG, Ross holds a Bachelor of Science in Applied Mathematics from Columbia University. His research spans macro trading, U.S. equities, and the structural dynamics behind the global AI memory supply chain, and he currently manages over $30M in AUM while leading a community of 15,000+ members. Memory stocks including $SK hynix(SKHY)$ have pulled back sharply since late June even as the AI infrastructure buildout keeps accelerating, leaving investors to weigh whether this is a short-term top or a buying opportunity within a longer boom.
Disclaimer: All content shared is purely for investor education purposes and does not constitute any financial advice, investment recommendation or trading signal. All trading involves significant risks. Please conduct independent research before making investment decisions.
2. $SK hynix(SKHY)$'s Run — and What's Behind It
SK Hynix shares are up more than 500% over the past year, a move driven by structural changes in the memory market: surging demand for high-bandwidth memory and DRAM feeding the AI data center buildout. That demand has driven a severe supply shortage and sharp price increases, translating into record profits at SK Hynix, Samsung, and Micron alike.
3. How This Cycle Differs From Past Ones
Historically, memory cycles have followed a sharp peak-trough pattern: demand rises, supply lags, prices spike, then supply eventually catches up and prices fall. Today's demand surge is unprecedented — even the most bullish supply-catch-up estimates point to the second half of 2027, with many industry watchers expecting 2028 or 2029 instead, given how capital- and time-intensive it is to bring new capacity online.
4. What Could Trigger a Real Downturn
The same four factors driving recent volatility are the ones worth watching for a genuine top: hyperscalers monetizing spare compute instead of buying more GPUs, uncertainty around monetizing frontier AI models (highlighted by OpenAI's delayed IPO), a market shift from pure order-visibility toward watching the memory inventory cycle, and capital rotating out of crowded AI/semiconductor trades. None of these signal a fundamentals problem yet, but they're the signals worth tracking.
5. CXMT and Regional Dynamics
China's CXMT is expected to go public in the second half of this year. The outlook here remains bullish, while its listing could pull liquidity away from other Hong Kong-listed names in the meantime.
6. Embracing AI as a Hedge Fund Founder
AI now handles roughly 85-90% of the day-to-day research workload — tasks that once required a team of equity researchers and quants. Multiple AI models, including Kimi, Claude, GPT, and DeepSeek, function almost like daily research counterparts that help generate trading ideas, while the final 10%, the highest-conviction, most valuable calls, still comes down to human judgment.
Closing Takeaway
Between the structural HBM shortage, Korea's supportive macro backdrop, and a supply catch-up that may not arrive until 2028 or later, the overall message across this series is consistent: this recent selloff looks like a compelling entry point within a multi-year cycle, not the end of one.
7. Risk Reminder
High-volatility AI and memory-related stocks carry substantial trading risks. Market participants without sufficient foundational knowledge are advised to complete education modules before initiating live positions.
8. Post-Event Resources
Viewers can access further insights via Ross Dong's official website, tmipartner.com, or his YouTube channel, TMI Partner. You can also follow him on X as Ross Dong, or via Tothemoon as Ross美股投资. The full livestream replay is available on the Tiger Trade app. Community participants may share demo trading plans and market observations tagging TB Live to join bonus activity rewards.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
