SK Hynix – The HBM Pioneer Goes to New York and Offers the Classic Catch-Up Opportunity!

SK Hynix is the most exciting capital market story of the week for me. The Nasdaq IPO planned for July 10, with a target volume of nearly $30 billion, would be the largest issuance of American depository receipts in history – and that's exactly what makes it appealing. The real leverage lies in the valuation: While Micron is trading at around 10 times the expected earnings, SK Hynix is only at 7 times. For me, this is a textbook re-rating opportunity. Due to the US listing, the company is likely to attract significantly more analyst coverage...