SK Hynix Stock Jumps Nearly 6% After First 100 Trillion Won Quarter
SK Hynix stock jumped 5.67% in Seoul trading Wednesday after the chipmaker reported record quarterly sales of 104.6 trillion won and forecast memory shortages through 2030.
The chipmaker's stock rose to 1.417 million won in early trading following its earnings report, which revealed operating profit of 83.33 trillion won with an 80% margin. Both revenue and operating profit exceeded analyst expectations, with DRAM selling prices increasing by a high-20s percentage from the previous quarter.
Net profit fell 58% from the prior quarter to 39.78 trillion won, below forecasts, as the second quarter had included significant gains from its Kioxia stake sale. The results came after a prolonged slide, with SK Hynix closing about 57% below its 52-week high on October 23.
Memory Shortage Forecast
SK Hynix expects memory demand to continue outpacing supply until 2030, citing technical challenges in producing leading-edge chips and the lengthy construction time for new factories. The company anticipates AI spending expanding beyond large firms to include ordinary businesses and national projects.
We expect memory demand to keep outpacing supply until 2030.
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