SK Hynix Climbs 3.7% as Micron's Blowout Quarter Clears the Air on Memory Demand

SK Hynix shares rose 3.7% to KRW 1,841,000 after strong Micron results and record Korean chip exports eased memory-cycle worries.

A surprisingly strong set of quarterly figures from Micron Technology rippled through Asia's semiconductor complex on Friday, lifting shares of Korean memory rival SK Hynix by 3.7% to KRW 1,841,000.00. News of record Korean semiconductor exports added further fuel, giving the broader technology sector a firm bid.

Micron's Outlook Eases Cycle Worries

Micron's results for the fourth quarter of its 2026 fiscal year beat market expectations and came with an upbeat read on global memory demand. The most reassuring signal for investors was evidence that supply capacity remains tight. As one of the leading makers of high-bandwidth memory (HBM) — the high-performance chips that data centers and artificial intelligence workloads cannot do without — SK Hynix stands to benefit directly from that persistent shortage. The US data went some way toward dispelling fears of a rapid cooldown in the global chip cycle.

A Strong Year, With Near-Term Hurdles

The stock has now gained 183% since the start of the year, a run that has raised the stakes ahead of the company's third-quarter report. Attention is shifting to short-term headwinds and the industry's generational handover in high-performance memory. On Tuesday, DS Investment & Securities trimmed its expectations for the chipmaker, citing a stronger won, reduced third-quarter estimates and the ongoing technology transition in memory. The brokerage still expects operating profit of KRW 70.1 trillion for the third quarter, and pointed to the fourth quarter for a recovery, when initial HBM4 sales and a broader rebound in memory prices could act as tailwinds. According to media reports, the house cut its price target to KRW 2.64 million on Wednesday while keeping its buy rating.

Wolfe Research Stays Bullish

Not everyone is turning cautious. On September 23, Wolfe Research analyst Chris Caso raised his price target to $250 from $200 and reiterated an "Outperform" rating. Caso pointed to improving prices in the memory segment and the potential for future capital returns to shareholders. He also argued that demand should outstrip supply for years to come.

HBM5 Validation and a Winpac Handoff

On the technology front, SK Hynix earned recognition as Partner of the Year for the second consecutive year after successfully validating HBM5 memory with TSMC's CoWoS packaging technology. Management also discussed plans to expand production and research and development worldwide. To keep standard DRAM capacity flexible, the company is once again outsourcing packaging steps to Korean partner Winpac.

Solidigm Speculation Draws a Careful Response

SK Hynix moved Thursday to tamp down speculation about its US subsidiary Solidigm. Responding to media reports, the company said no decisions have been made about Solidigm's future capital plans or the financing of its investment projects, adding that any strategic move would be weighed against its impact on existing shareholders and long-term corporate value. Reuters reported on September 25, citing people familiar with the matter, that Solidigm is exploring a US initial public offering — a step that could value the unit at as much as $150 billion, though it remains at a very early stage.