Livewire recently featured our global equities fund's analysis of SK Hynix, the South Korean chipmaker that has surged 330% in six months and recently crossed the US$1 trillion valuation mark. Our portfolio manager and co-founder Armina Rosenberg identified SK Hynix as her top growth stock pick for 2026, highlighting the company's critical role in the AI infrastructure build-out. We recognised early that high bandwidth memory (HBM) would become a crucial bottleneck in AI development. Rosenberg noted:
Without SK Hynix's HBM, the Nvidia GPUs don't work, and it still trades well less than the multiple of Micron.
We added to our positions during March's pullback, demonstrating our conviction in the fundamentals despite short-term volatility. Co-founder Thomas Rice emphasised that despite the rapid appreciation, the stock remains undervalued relative to its growth trajectory. SK Hynix and Micron remain our two largest positions, reflecting our analysis of the structural tailwinds driving memory demand. We believe the memory bottleneck will persist until 2028, supporting continued upside. Our bull case targets approximately 40% further appreciation from current levels. To read the article, click the link below.