HSBC: It is too early to worry about the storage cycle peaking

```htmlGolden Ten Data reported on July 14 that HSBC analysts stated in a research report that concerns about the storage cycle peaking may be premature. The analysts believe that as intelligent AI enhances office productivity and reshapes work processes, the storage super cycle may continue. The steadily improving profit margins of AI services continue to support strong cloud spending, and hyperscale cloud service providers are unlikely to slow down their expansion of computing power as they compete in a rapidly growing market. With the gradual introduction of next-generation high-bandwidth memory HBM4 into the market, the upward trend in HBM product prices is expected to persist. Given SK Hynix's large exposure to HBM, HSBC prefers SK Hynix among Korean technology stocks. HSBC expects that after HBM4 is widely adopted in 2027, SK Hynix will likely maintain a market share of 50% to 55% in the HBM market.```