SK Hynix is a golden goose. It has to lay more eggs

SK Hynix shares tumbled about 10% in Seoul on Monday following their US debut, as investors weighed risks against the memory chip maker's record profitability. Analysts estimate more than $300 billion in free cash flow over this year and next, driven by a high-bandwidth memory shortage tied to Nvidia GPU demand that may persist until 2027. However, pressure from the South Korean government and Washington to massively expand production, alongside capacity additions by Samsung and Micron, risks tipping the highly cyclical industry into a supply glut and downturn, with leveraged retail investors already facing losses.