Equity Long-Short

Mo Aziz

Capital markets veteran with 25 years across sell-side and buy-side research, investor relations, and fund management. Currently publish independent equity research (Mofferies Investment Research, via Smartkarma) spanning semiconductor memory (DRAM/NAND/HBM), foundry, semiconductor equipment and advanced packaging, gold and cross-asset strategy, financials forensics, and APAC IPOs — with a standing watchlist of 190+ companies across 41 countries. Background includes deep aviation-sector expertise (airlines, airports, OEMs, lessors, air cargo, travel/OTAs). Approach centers on identifying cyclical inflection points and mispriced risk across sectors, translated into explicit, actionable calls.

Samsung Electronics (005930 KS) | Q2 2026 Results = Above, Outlook Positive, Record Cash at Hand

Samsung & SK Hynix: The Richest Cheap Stocks in Global Tech, With More Cash Than the Mag 7 Combined

The Solidigm Stub: SK Hynix's US$35bn AI-Storage Asset Priced at Zero

Equity Bottom-Up

<ul>
<li>World's only producer simultaneously leading DRAM (#1), NAND (#1), and HBM (#2), with a 4nm in-house base die conferring cost advantages SK Hynix's TSMC dependency cannot replicate at scale.</li>
<li>HBM4 Nvidia qualification resolved the 2-year bear case; USD 1bn confirmed revenue resets the narrative; HBM4E qualification is the next multiple re-rating trigger.</li>
<li>BUY, KRW 400,000 PT (9.3x FY2026E EPS KRW 43,000); requires no heroic assumption — merely trading below Micron and historical average.</li>
</ul>


World's only producer simultaneously leading DRAM (#1), NAND (#1), and HBM (#2), with a 4nm in-house base die conferring cost advantages SK Hynix's TSMC dependency cannot replicate at scale.
HBM4 Nvidia qualification resolved the 2-year bear case; USD 1bn confirmed revenue resets the narrative; HBM4E qualification is the next multiple re-rating trigger.
BUY, KRW 400,000 PT (9.3x FY2026E EPS KRW 43,000); requires no heroic assumption — merely trading below Micron and historical average.


SAMSUNG ELECTRONICS (005930 KS): Initiate with a BUY (KRW 400,000)