[SK Hynix Earnings Miss Expectations, Stock Once Plunges 9% in After-Hours Trading]

Published: Jul 29, 2026 09:49

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SK Hynix (SKHY.O) reported earnings on Wednesday. Driven by tech giants' increased investment in AI data centers, fueling strong demand for advanced memory chips, the company's Q2 operating profit surged 557% to 60.5 trillion won (approximately $41.62 billion), a record high, compared with 9.2 trillion won a year earlier. However, this figure fell short of market expectations of 64 trillion won, mainly because its high-end memory chips (HBM) account for a higher share than competitors, leaving it less able to fully benefit from the current strong price cycle for conventional memory chips. This heightened concerns that the AI boom driving the semiconductor industry may be slowing. SK Hynix's revenue also missed expectations. Its Q2 revenue was 79 trillion won, versus market expectations of 84 trillion won. Following the report, SK Hynix fell as much as another 9% in after-hours trading after closing down 9% in the U.S. stock market on Tuesday, while SanDisk (SNDK.O) and Micron Technology (MU.O) also slid more than 4%, erasing the boost from Seagate Technology's (STX.O) earnings.

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