HBM: Record quarterly sales and robust international growth, with stable EBIT and higher CapEx ahead - TradingView

HBM represents a crucial component in the semiconductor industry, demonstrating robust growth momentum recently. Financial performance reveals record quarterly sales, primarily driven by sustained glo... Read original →

Record HBM sales reflect the inevitable technical outcome of the AI compute arms race. Its 3D stacking and TSV processes are straining advanced packaging, silicon interposer, and CoWoS capacity, significantly boosting TSMC’s and Samsung’s foundry leverage. Geopolitically, U.S. export controls on advanced semiconductor tools have raised compliance costs across the HBM supply chain, complicating localized production strategies by Korean and Taiwan, China-based firms in mainland markets. As SK Hynix and Micron accelerate HBM4 ramp-up, Samsung will likely counter with aggressive CapEx to secure EUV and hybrid bonding tools, further consolidating market power. Within 18 months, HBM will evolve from an AI-training ‘option’ to a standard GPU memory interface, triggering a full memory subsystem redesign and hastening DDR5’s obsolescence in high-performance segments.