SK Hynix stock faces a target cut as HBM4 demand builds

Published on 09/29/2026 at 14:30 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

SK Hynix stock carries a KRW 2.64 million target from DS Investment & Securities dated September 29, 2026. Q2 revenue reached KRW 79.3 trillion, with a 76.00 percent operating margin.

SK Hynix, KR7000660001, Illustration mit AI erstellt.

SK Hynix stock (ISIN KR7000660001) faces a target cut to KRW 2.64 million as analysts balance HBM4 demand against currency pressure. Seoul Economic Daily reported the change on September 29, 2026, alongside a Buy rating and a forecast for stronger fourth-quarter product mix.

Target cut meets HBM4 demand

DS Investment & Securities lowered its target from KRW 3.10 million to KRW 2.64 million and reduced its assumed third-quarter exchange rate to KRW 1,370 per USD 1.00 from KRW 1,430. The move reflects the stronger won and the transition to next-generation high-bandwidth memory.

The brokerage still projects third-quarter revenue of KRW 89.5 trillion and operating profit of KRW 70.1 trillion. Those estimates represent increases of 13 percent and 16 percent, respectively, from the prior quarter, with an operating margin projected at 78.00 percent.

Q2 results set a high base

SK Hynix generated KRW 79.3 trillion in Q2 2026 revenue, up 51 percent quarter over quarter and 257 percent year over year. Operating profit reached KRW 60.5 trillion, an increase of 61 percent quarter over quarter and 557 percent year over year.

According to Yahoo Finance, the Q2 operating margin reached 76.00 percent, compared with 72.00 percent in Q1 2026. DRAM and NAND pricing, server memory and enterprise SSD demand supported the quarter's record result.

October earnings provide the next test

SK Hynix's next earnings report is scheduled for October 27, 2026, according to Gekko. The date gives investors a defined checkpoint for the brokerage's KRW 89.5 trillion revenue estimate and its KRW 70.1 trillion operating-profit forecast.

The numbers show the tension clearly: Q2 delivered a 76.00 percent margin, while DS Investment & Securities expects 78.00 percent in Q3 despite trimming its profit view. HBM4 sales growth and memory pricing therefore remain central to the next earnings narrative.

Q2 operating profit reached KRW 60.5 trillion

SK Hynix's latest reported operating result was KRW 60.5 trillion in Q2 2026, alongside KRW 79.3 trillion in revenue and a 76.00 percent operating margin. The company trades under ticker 000660.KS on the Korea Exchange.