Is SKM a good stock to buy? We came across a bullish thesis on SK Telecom Co., Ltd. on Bullseye Research’s Substack by Bullseye Investing. In this article, we will summarize the bulls’ thesis on SKM. SK Telecom Co., Ltd.’s share was trading at $41.21 as of June 9th. SKM’s trailing and forward P/E were 63.33 and 24.57 respectively according to Yahoo Finance.
SK Telecom (SKM) is a leading South Korean telecom operator that is increasingly positioning itself as an artificial intelligence and digital infrastructure platform while maintaining a dominant domestic wireless business. Its core operations include mobile services, broadband internet, enterprise connectivity, and emerging AI initiatives, with mobile subscriptions remaining the primary cash-generating segment due to strong market share, high customer retention, and premium network quality.
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The company operates in a concentrated telecom market alongside KT and LG U+, but differentiates itself through broader AI ambitions spanning enterprise AI, consumer AI, and AI-focused data centers. SK Telecom has rapidly expanded its AI infrastructure presence through GPU-as-a-Service partnerships, domestic AI data center development, and synergies with affiliate SK Hynix, providing a vertically integrated advantage in semiconductor and networking capabilities.
The company has also gained traction in consumer AI through its A-dot platform and plans to expand internationally with Aster, developed in partnership with Perplexity. However, the central investment thesis revolves around SK Telecom’s early investment in Anthropic. The company invested $100 million in 2023 when Anthropic was valued at $5 billion, and its diluted stake is now estimated to be worth roughly $2.5 billion against SK Telecom’s market capitalization of approximately $13 billion.
This creates a significant disconnect between the value of its Anthropic holdings and the market’s valuation of its core telecom operations. Despite temporary financial pressure from a 2025 cyberattack and elevated AI infrastructure CapEx, SK Telecom still trades at a discounted EV/EBITDA multiple relative to peers. The anticipated IPO of Anthropic, combined with continued AI data center growth and recovering profitability, could drive a meaningful rerating of the stock.
Previously, we covered a bullish thesis on Verizon Communications Inc. (VZ) by Charly AI in April 2025, which highlighted the company’s 5G expansion, IoT partnerships, strong cash flow generation, and attractive dividend-backed valuation. VZ’s stock price has appreciated by approximately 8.56% since our coverage. Bullseye Investing shares a similar view but emphasizes SK Telecom’s AI infrastructure expansion and Anthropic stake as key upside catalysts.
SK Telecom Co., Ltd. is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held SKM at the end of the first quarter which was 12 in the previous quarter. While we acknowledge the risk and potential of SKM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SKM and that has 10,000% upside potential, check out our report about this cheapest AI stock.
Disclosure: None.
