Hynix ‘continues to raise the bar’ for Micron and Samsung, says TD Cowen

TD Cowen analyst Krish Sankar views commentary from Hynix’s earnings as neutral for the semiconductor capital equipment group in the near term. NAND bit shipments missed management expectations in Q2 and Q3 shipment growth is lower than expected, which is a slight negative for Western Digital (WDC), the analyst tells investors in a research note. In high bandwidth memory, Hynix “continues to raise the bar” for Micron Technology (MU) and Samsung as it sees HBM3E 12Hi volumes exceeding 8Hi in the first half of 2025, says TD. The firm believes this puts more pressure on Micron and Samsung in ramping their HBM shipments and improving their yields.