SK Hynix stock faced renewed selling pressure after the memory-chip maker reported second-quarter figures that came in below market forecasts. While revenue and operating profit reached quarterly records, both measures missed analyst estimates, triggering a sharp decline in share prices.
The company’s US-listed ADRs closed Tuesday at $130.17, down 8.99% during regular trading, before recovering about 1.9% in after-hours trading. In Seoul, SK Hynix shares fell approximately 9.4% on Wednesday as investors digested the earnings release.
SK Hynix Earnings Miss Market Forecasts
SK Hynix reported second-quarter revenue of 79.3 trillion won, up 257% from the same period last year. Analysts had expected approximately 84 trillion won. Operating profit reached 60.5 trillion won, marking a 557% annual increase, but still fell short of the 64 trillion won market forecast.
Both revenue and operating profit set company records during the June quarter, yet the gap against forecasts shaped the market reaction. Investors had raised expectations after strong demand lifted memory prices and pushed SK Hynix stock to record levels earlier in 2026.
Net profit surged more than 13 times to 93.9 trillion won, with investment gains playing a major role in that increase. Analysts linked much of the gain to the completed sale of SK Hynix’s indirect stake in Japanese flash-memory maker Kioxia.
AI Memory Demand Supports Record Results
Demand for high-bandwidth memory continued to support SK Hynix earnings. HBM chips serve data centers that train and operate artificial intelligence models. The company has secured long-term supply agreements with approximately 10 customers and continues negotiations with other buyers.
SK Hynix said customers are seeking longer contracts as memory supply remains tight. These agreements include financial protections intended to reduce risks from changes in customer demand. The company also plans 2026 capital spending of about 47 trillion to 48 trillion won.
However, delays in some HBM4 shipments reduced revenue recognition during the quarter. Price gains for standard DRAM products also came in below earlier expectations, contributing to the operating profit and revenue misses.
Management maintained its positive demand outlook for the second half of 2026, expecting AI server investment and limited memory supply to support sales. Still, the latest figures show that record growth must also clear high market forecasts.
SK Hynix Stock Tracks Wider Chip Selloff
SK Hynix stock moved lower during a broader retreat from AI-linked semiconductor shares. Investors have questioned the funding and returns of large data-center projects. Competition from Chinese memory-chip companies has also added pressure across Asian markets.
South Korea’s Kospi fell approximately 6% on Wednesday, while Samsung Electronics lost about 4.8%. The moves followed broad selling across chip stocks. SK Hynix ADRs also closed below their $149 US listing price after Tuesday’s decline.
Investors are also watching the company’s shareholder return plan. SK Hynix has not yet provided details on its timing, size, or structure. Hyundai Motor Securities research head Greg Roh said, “SK needs to come up with a concrete shareholder return policy to turn around investor sentiment.”
The company reported a net cash position of about 88 trillion won at the end of June and aims to build that figure toward 100 trillion won. Investors will track future spending, customer contracts, HBM4 deliveries, and the planned shareholder return policy.
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