SK Hynix Heads for Sixth Straight Record Quarter as AI Memory Demand Outruns a Bruising Tape
Published on 10/19/2026 at 18:20 | Editorial boerse-global.de
SK Hynix is on course to post its sixth consecutive record quarter, even as its shares absorb a global semiconductor selloff. Analysts surveyed by FnGuide see operating profit of 76.964 trillion won for the third quarter of 2026 — a margin of roughly 78.4% — with the official interim results due at the end of October.
The engine behind that run is high bandwidth memory for artificial intelligence systems. Revenue from HBM4 supplied for Nvidia's Vera Rubin platform is expected to be fully reflected in the books from the third quarter onward. Counterpoint puts SK Hynix's share of worldwide HBM revenue at 50% in the second quarter of 2026, ahead of Samsung on 33% and Micron on 18%. JPMorgan expects the company to capture 54% of all HBM shipments for Nvidia across the full year.
Profitability on that scale has revived talk of extra shareholder returns. The market is looking for payouts of more than 30 trillion won, with buybacks and share cancellations likely to take precedence.
Prices Add a Second Tailwind
Volumes are only half the story. JPMorgan has raised its contract price forecasts for the fourth quarter of 2026, now projecting DRAM gains of 10% to 15% and NAND gains of 15% to 20% versus the prior period. The same analysts see shortages persisting: an HBM shortfall of 20% for the full year 2026, easing only modestly to 19% in 2027 and 16% in 2028.
Should investors sell immediately? Or is it worth buying SK Hynix?
The stock closed at 1,277,000.00 KRW in Seoul, up 0.4% on the day, and has gained 97% since the start of the year.
A Selloff With Several Sources
That year-to-date advance has not shielded the shares from broader turbulence. SK Hynix fell 2.0% to 1,246,000.00 KRW in one recent session, recovering from steeper losses earlier in the day as foreign and institutional buyers stepped in after the initial slide. The trigger was mounting doubt over how artificial intelligence is financed in the US, where concern about debt-funded data centre spending and rising borrowing costs rippled across the sector. The weakness swept through Micron, Broadcom and AMD as well as Asia's chip heavyweights, with investors questioning how quickly the enormous outlays on AI infrastructure will pay off.
Reports of technological progress at Chinese memory maker CXMT added to the nervousness, feeding fears of intensifying competition from China. Foreign investors offloaded SK Hynix stock worth 5.3565 trillion won over the stretch. The shares now sit 58% below their 52-week high.
Goldman Takes the Other Side
Goldman Sachs struck a more nuanced tone on 16 October, naming SK Hynix among its preferred names in memory as the sector sold off. In the US bank's view, investors are overestimating how quickly Chinese rivals can close the technology gap. It tempered that call, though, cautioning that short-term catalysts for a sharp reversal are scarce.
The company, for its part, is pressing ahead on the technology front. At the OCP Global Summit it showcased memory-centric server systems and concepts for modern AI memory architectures, and presented research on optimising 3D-FeNAND technology for AI computing workloads. Nvidia, according to media reports, wants TSMC's 3-nanometer process for the base dies and sixth-generation (1c) DRAM for the core dies in its future NVHBM generation — a move aimed at standardising interfaces across multiple suppliers.
Regulatory questions are simmering in the background. South Korean supervisors recently raised concerns about possible dual listings at subsidiaries, touching on strategic options for the overseas business of memory unit Solidigm. None of it has yet disturbed the operating upswing in the core market for high-performance AI memory — though for investors, the durability of the share price still hinges chiefly on the willingness of the big technology groups to keep spending.
Ad
SK Hynix Stock: New Analysis - 19 October
Fresh SK Hynix information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
