Morgan Stanley maintains the overweight rating for SK Hynix and Samsung Electronics.

Morgan Stanley maintains an overweight rating for SK Hynix and Samsung Electronics, setting target prices at 2.6 million won and 381,000 won, respectively. Based on the report's benchmark share prices, the two target prices correspond to potential upside of approximately 74% and 65%, but this does not guarantee that the stock prices will rise. The report raises the forecast for cloud capital expenditure growth in 2027 from 14% to 29%, with AI computing demand remaining an important structural support for the storage cycle. DRAM and NAND contract prices continue to rise, but the month-on-month growth rate has declined from its peak; Morgan Stanley expects the storage industry to enter the later stages of the cycle by the fourth quarter of 2026.