SK Hynix Quashes Ohio Intel Speculation as Earnings Season Looms
Published on 07/22/2026 at 19:41 | Redaktion boerse-global.de
A whirlwind of takeover chatter sent SK Hynix shares on a wild intraday ride Wednesday before reality set in. The stock briefly surged more than 9% in early trading after reports surfaced that the South Korean memory chip giant was in talks to acquire Intel’s sprawling Ohio fabrication facility. By the closing bell, the gains had evaporated entirely, leaving the stock down 0.33% at 1,830,000 won — a stark reminder of how quickly sentiment can shift when rumors collide with official denials.
The company moved swiftly to contain the damage. On July 22, SK Hynix filed a formal clarification with both the Korea Exchange and the U.S. Securities and Exchange Commission via a Form 6-K, flatly stating it had neither pursued nor made any decision to purchase Intel’s Ohio site and its associated factory. The filing, signed by investor relations chief Seonghwan Park in one version and CFO Kim Woo-hyun in another, acknowledged that the company routinely evaluates investment and acquisition opportunities — but stressed that no concrete action had been taken on this specific target. South Korea’s Ministry of Trade, Industry and Energy backed the denial, saying there was no basis for the investment speculation. Intel, for its part, declined to comment in detail but reaffirmed its commitment to the Ohio project, known as “Ohio One,” a $28 billion undertaking on roughly 1,000 hectares that has already been delayed to 2030-2031.
The rumor mill had plenty of fuel to work with. SK Hynix already bought Intel’s NAND and SSD business for $9 billion in 2022, making a follow-on deal seem plausible. Just days earlier, on July 15, SK Group Chairman Chey Tae-won had said the conglomerate was scouting U.S. locations for new semiconductor plants. And U.S. Commerce Secretary Howard Lutnick had recently urged Korean manufacturers to shift more production stateside. But the company’s actual U.S. strategy is already in motion: SK Hynix is investing $3.87 billion in an HBM packaging facility in Indiana, slated for completion in 2028.
The denial comes at a delicate moment for the stock. SK Hynix shares have been in freefall, sliding roughly 39% from their 52-week high of 2,987,000 won reached in late June. The past 30 days alone have wiped out more than 37% of the stock’s value — a brutal correction that has left the chipmaker trading at levels not seen in months. Despite the carnage, foreign investors have been buying on the dip for several consecutive sessions, fueling speculation that a bottom may be forming.
Should investors sell immediately? Or is it worth buying SK Hynix?
All eyes are now fixed on July 29, when SK Hynix is scheduled to report quarterly earnings. The numbers are expected to be staggering. Analysts at Korea Investment & Securities project an operating margin of 74.6%, while FnGuide forecasts an even richer 77% — this after a record 72% in the prior quarter. Revenue is seen hitting 80.9 trillion won, a 264% year-over-year surge, with operating profit leaping 556% to 60.4 trillion won. Mirae Asset Securities recently trimmed its profit estimate by 12% to 62.3 trillion won, citing softer pricing expectations for DRAM and NAND, but noted that long-term supply contracts now account for roughly half of revenue, providing a stabilizing buffer.
For the full year 2026, KB Securities forecasts revenue of 340.75 trillion won and operating profit of 258.14 trillion won — gains of 250.8% and 446.8%, respectively, from 2025. The firm maintains a buy rating with a price target of 4.2 million won, projecting that B2B business will grow to 70% of total revenue by 2027.
The broader memory market narrative remains intensely bullish. CEO Kwak Noh-jung told Reuters he expects the memory shortage to peak in 2027, with demand outstripping supply well beyond 2030. TrendForce estimates that HBM chips will consume roughly 30% of global DRAM wafer capacity by the end of 2027. Morgan Stanley, echoing that view, has described the recent selloff in memory stocks as a buying opportunity, pointing to supply risks in 2027 and 2028.
SK Hynix at a turning point? This analysis reveals what investors need to know now.
Adding to the technological momentum, SK Hynix recently unveiled a new memory architecture called IMTE, which boosts AI inference efficiency by 35.7% compared to conventional systems. The design places CXL hybrid memory between high-performance HBM/DDR and SSDs. The company is also in discussions about sample deliveries of its second-generation CMM-DDR5 modules based on the CXL 3.2 standard — moves analysts see as critical to defending its leadership in AI memory as traditional HBM and DDR capacities approach their limits.
Chairman Chey Tae-won has described the current market environment as “abnormal,” driven by a massive supply-demand imbalance. Analysts at Meritz Securities estimate that DRAM manufacturers can currently meet only 75-80% of market demand, a figure that could fall to 60% by 2027. With production of HBM and high-end DRAM chips sold out through year-end, the earnings report on July 29 will serve as the clearest test yet of whether SK Hynix can translate its technological dominance into sustained investor confidence — or whether the recent selloff has further to run.
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SK Hynix Stock: New Analysis - 22 July
Fresh SK Hynix information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
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