JPMorgan Forecasts SK Hynix HBM Price Gains Below 40% for FY2027

Analysts project annual HBM contract price increases under 40%, contrasting market expectations of over 50% driven by tight D5 memory supply dynamics.

Woofun AI reports that JPMorgan's Asia-Pacific Technology Review highlights a divergence in market sentiment regarding SK Hynix. While investors anticipate shareholder returns reaching at least half of Samsung Electronics' levels, the bank maintains a conservative stance on pricing power. JPMorgan analyst Jay predicts that annual HBM contract price increases for fiscal year 2027 will remain below 40%, significantly lower than the market's expectation of over 50% amid tight bulk D5 memory supply. This outlook factors in NVIDIA's strategic leverage and SK Hynix's annual price reset mechanism.