Changes in US stocks | “Big Short” shorted memory chip stock SK Hynix (SKHY.US) fell more than 4%

The Zhitong Finance App learned that on Wednesday, SK Hynix (SKHY.US) opened low and went low. As of press release, the decline was more than 4%, and the market value was about 1.37 trillion US dollars. According to the news, “Big Short” Michael Burry published another article, clearly questioning the memory chip manufacturer's valuation, further increasing short positions on memory chip stocks such as Micron Technology. He described these companies' stock prices as “rising to an outrageous level compared to themselves,” and predicted that once the cycle was reversed, the relevant individual stocks would face a “sharp sell-off.”

The core logic of this judgment lies in supply-side changes. Burry believes that the tight supply of traditional DRAM in the past two years did not stem from a structural boom on the demand side, but rather a supply-side “detour” — Samsung, SK Hynix, and Micron switched wafer production capacity to high-bandwidth memory (HBM) required for AI data centers on a large scale, thus squeezing the supply space for ordinary DDR5 and driving consumer and server memory prices to continue to rise. As these production lines gradually switch production capacity back to the traditional DRAM sector, the narrowing of the supply and demand gap that he is betting on should occur as well.