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.

SEMICONDUCTOR MEMORY CYCLE MONITOR — Issue #3 | 18–25 July 2026

SK HYNIX (000660KS, SKHY US): 29 July - Mark It, Circle It, Put in on Your Fridge

SK HYNIX (000660KS, SKHY US) 2Q26 Results: The Consensus Miss We Flagged — And Why We Add Into It

SEMICONDUCTOR MEMORY CYCLE MONITOR — Issue #1 | Week of 22–26 June 2026

Thematic (Sector/Industry)

United states Semiconductors and semiconductor equipment / Thematic (Sector/Industry)

<ul>
<li>Memory stocks fell 28% month-to-date in July. Korea's KOSPI hit its third-worst session since Lehman. 1.2 million leveraged retail accounts were margin-called. Leverage unwinding, not a demand signal.</li>
<li>SK Hynix's ADR (SKHY) priced at USD149 — seven times oversubscribed, the largest US share sale ever by a foreign company — before the same retail book got margin-called.</li>
<li>Long SK Hynix (000660 KS / SKHY US): 56% HBM share, 72% operating margin, ~7x forward earnings. Catalyst: Q2 results 29 July. Alternative: Long DRAM US ETF (US$52.72, target US$74).</li>
</ul>


Memory stocks fell 28% month-to-date in July. Korea's KOSPI hit its third-worst session since Lehman. 1.2 million leveraged retail accounts were margin-called. Leverage unwinding, not a demand signal.
SK Hynix's ADR (SKHY) priced at USD149 — seven times oversubscribed, the largest US share sale ever by a foreign company — before the same retail book got margin-called.
Long SK Hynix (000660 KS / SKHY US): 56% HBM share, 72% operating margin, ~7x forward earnings. Catalyst: Q2 results 29 July. Alternative: Long DRAM US ETF (US$52.72, target US$74).


SEMICONDUCTOR MEMORY CYCLE MONITOR — Issue #2 | 28 June – 17 July 2026