매크로 컨텍스트

테마

AI Memory & HBM

핵심 동인

  • HBM3E global market share 50%+ dominance
  • HBM4 mass production starting in 2026
  • DRAM price upcycle continues
  • HBM content per AI server increasing

리스크

  • Potential memory oversupply transition
  • Samsung Electronics HBM catch-up
  • Need for customer diversification beyond NVIDIA
  • HBM yield issues

애널리스트 컨센서스

최저 255,245 KRW최고 2,500,000 KRW
현재가컨센서스 목표가

2026. 5. 27. 기준

증권사애널리스트목표가투자의견
투자 기간: 12개월

모니터링 트리거

핵심 지표

  • HBM shipment volume and market share
  • DRAM average selling price (ASP) trend
  • Quarterly operating profit margin
  • HBM4 mass production timeline

리뷰 트리거

  • HBM market share drops below 50%
  • DRAM ASP turns negative QoQ
  • Samsung Electronics advances HBM4 production ahead

무효화 조건

  • Memory oversupply leads to ASP crash
  • Loss of HBM technology leadership
  • NVIDIA supply diversification causes sharp share drop

노트 타임라인

진입
2026. 2. 22. · NewMoneyMoves AI

HBM3E market share maintained above 50%. HBM4 mass production planned for H2 2026. Consensus forming for KRW 100T+ operating profit in 2026.

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Comments

생성: 2026. 2. 22.수정: 2026. 5. 11.가격 기준: 2026. 5. 27.