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未來資產升SK海力士目標價至380萬韓圜 KB證券估升浪仍在半途 Wedbush:市場低估記憶體超級周期
受兩大權重股三星電子及SK海力士帶動,南韓KOSPI指數今日(27日)盤中曾升5.1%高見8,457點再創歷史高,全日收升181點或2.3%,報8,228點。儘管SK海力士年內累升逾250%,分析員料AI所驅動的升浪尚未完結。未來資產上調SK海力士目標價19%,由320萬韓圜升至380萬韓圜。KB證券全球投資策略師Peter Kim稱,兩大權重股的基本因素與...
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未來資產升SK海力士目標價至380萬韓圜 KB證券估升浪仍在半途 Wedbush:市場低估記憶體超級周期
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受兩大權重股三星電子及SK海力士帶動,南韓KOSPI指數今日(27日)盤中曾升5.1%高見8,457點再創歷史高,全日收升181點或2.3%,報8,228點。

儘管SK海力士年內累升逾250%,分析員料AI所驅動的升浪尚未完結。未來資產上調SK海力士目標價19%,由320萬韓圜升至380萬韓圜。

KB證券全球投資策略師Peter Kim稱,兩大權重股的基本因素與估值似乎仍然非常穩健。他補充,估計美國記憶體巨擘美光(MU.US)      的市盈率約為12倍,而SK海力士與三星的市盈率則介乎約6至7倍。若審視股價,但同時看估值的基本因素,他會說這輪驚人漲勢還未走到一半。

《CNBC》另引述Wedbush證券分析師Dan Ives發表的報告,將當前的AI熱潮形容為僅處於「九局比賽中的第三局」。他寫道,人工智能革命正全力推進,並補充HBM、DRAM及NAND記憶體的需求已達到「前所未見的水平」。Ives表示,相信SK海力士是這輪記憶體超級週期的核心受惠者,也是當今市場上最重要的AI概念股之一,因為市場仍嚴重低估此週期的持續時間與規模。大型科技公司的資本支出預計將達到約7,250億美元。

不過,部分投資者已對南韓股市積累的市場集中風險感到不安。今日(27日)十多隻與三星及SK海力士掛鉤的兩倍槓桿產品在南韓上市,或進一步加劇市場波動性。

Kim稱,市場已變得「非常兩極化」,少數AI相關股票對基準指數表現產生巨大影響。儘管存在憂慮,他認為通常會終結半導體上行週期的關鍵風險不太可能在短期內出現。真正會打破此週期的,最終總是產能過剩,但產能至少需要數年才能釋放,因此他認為這輪漲勢大概只走到一半。

《彭博》引述Taurus Asset Management證券投資經理Cha So-Yoon稱,單靠盈利能力,難以估計SK海力士短期見頂位置,即使投資者不以大型科技股的20倍(市盈率)為估值基礎,許多人以10倍來推測,意味SK海力士仍有重大上行空間。

巴克萊本月較早前亦提及,SK海力士潛在美國上市將屬催化劑。巴克萊料其續受惠於產品定價能力,因供應持續緊張。該行料SK海力士仍維持在HBM領域的領導地位。(da/u)(Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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