Beyond SK Hynix: 3 Stocks Poised to Benefit From the HBM Explosion

With SK Hynix demonstrating the profit potential of AI memory, investors are scrambling to identify secondary beneficiaries:

Direct Suppliers

• ASML (ASML): Sole EUV lithography supplier (+38% YTD)

• Linde (LIN): Specialty gases for chip production (+22%)

• Disco Corp (6146.T): Precision cutting tools (+67%)

Alternative Plays

• Samsung (005930.KS): Racing to close HBM gap

• TSMC (TSM): Critical packaging partner

• Materials ETFs: SOXX, SMH

“Think of HBM as the new oil,” said Morgan Stanley’s Shawn Kim. “The picks-and-shovels plays may offer better risk/reward than the miners themselves.”