SK Hynix trades publicly in Korea under its local listing and via an ADR, both of which are now covered by BofA. The company posted quarterly sales of W79tn in the second quarter of 2026, a gain of 51% quarter-on-quarter and 257% year-on-year, with an operating profit margin of 76%. Those figures are already behind us; what BofA is betting on is that the next several quarters look even better. BofA expects that run-rate to hold through 2028, underpinned by an 80%-plus DRAM operating margin. Chinese memory chipmakers, meanwhile, are expected to supply less than 10% of the 2028 global addressable market, limiting their pricing impact.