Goldman Sachs analysts report a worsening shortage of high-bandwidth memory (HBM), driven by the surge in AI infrastructure investment. SK Hynix expects memory pricing growth to persist throughout 2024 as robust demand continues to outpace tight global supply. This shortage is now filtering into the retail sector, with products like Valve's handheld gaming PCs already facing availability issues. Goldman Sachs has maintained a "Buy" rating on SK Hynix, noting that suppliers currently hold significant leverage in long-term contract negotiations. The strategic shift toward AI-focused production is tightening conventional DRAM markets, providing a bullish outlook for major semiconductor manufacturers and their profit margins.
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