Rating: Overweight
Target Price (KRW): 44,300
Price (8 Oct 2015, KRW): 37,550
3Q15 Earnings Forecast Solid: We forecast SK Hynix to post sales of KRW5.00T (+9%,QoQ), operating profit of KRW1.4T (-3%,QoQ) and net profit of KRW1.07T (-3%,QoQ) for its upcoming 3Q15 earnings announcement on Oct. 22. Despite recent downtrend in PC DRAM ASP, SK Hynix’s decision to increase Mobile DRAM production portion has been the main catalyst. Moreover, NAND production and shipment is expected to increase with larger demand coming from across the globe
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