Fidelity Dividend Growth Fund on SK hynix Inc.
Thesis
SK hynix is an out-of-benchmark semiconductor position benefiting directly from the AI memory cycle. Record revenue and strong first-quarter results reinforced Fidelity's view that the AI semiconductor boom remains intact. High-bandwidth-memory demand continues to exceed supply, supporting sustained pricing strength and profit growth.
“Demand for high-bandwidth memory continued to outstrip supply, supporting management's expectation for sustained pricing strength and profit growth.”