SK Hynix Stock Rises 3.7% to 1,841,000 KRW as Micron's Record Quarter Tightens Memory Market

SK Hynix closed at 1,841,000 KRW, up 3.7%, after Micron's results pointed to tight memory supply; DRAM share slipped to 25% in Q2.

SK Hynix shares climbed 3.7% in Seoul trading on Friday to close at 1,841,000.00 KRW, buoyed by a wave of positive sentiment that swept through the semiconductor sector following upbeat signals from the United States. The advance extends a remarkable run for the South Korean memory maker, whose stock has surged 183% since the start of the year.

At the heart of Friday's rally were Micron Technology's latest results and its guidance pointing to persistently tight supply in memory chips. The U.S. rival reported revenue of $54.23 billion for the fourth quarter of its fiscal year 2026 — a figure that reinforced confidence across Asian producers that demand remains on solid footing. Investors interpreted the supply squeeze as a signal of dependable sales opportunities, offering temporary relief to South Korean chipmakers from broader economic worries.

DRAM Market Share Slips as Micron Closes In

The upbeat trading session notwithstanding, the competitive landscape is growing more demanding. According to Counterpoint Research, SK Hynix captured a 25% revenue share of the global DRAM market in the second quarter — a decline of four percentage points from the prior quarter. Micron, meanwhile, expanded its own share to 24%, narrowing the gap between the two to less than one percentage point.

To shore up its supply chain and accelerate technological development, SK Hynix is leaning on closer collaboration with partners. At its Partner Day 2026 on Wednesday, the company unveiled a support program that covers up to half of suppliers' initial research and development costs. Notably, financial settlement remains possible even if a development project fails or does not lead to a future purchase.

Analysts Trim Targets Ahead of Third-Quarter Results

The technology transition has prompted analysts to adopt more cautious models. On Tuesday, DS Investment & Securities lowered its price target for SK Hynix from 3.1 million to 2.64 million Won while maintaining its "Buy" rating. The brokerage cut its earnings estimates for the third quarter, citing the strength of the South Korean Won and the shift to the next generation of High Bandwidth Memory (HBM) chips. The same study projected an operating profit of 70.1 trillion Won for the quarter and pointed to the fourth quarter as a potential turning point, when initial sales of HBM4 modules and a broader recovery in memory prices could act as positive drivers.

Bernstein adjusted its own target on the same day to 2.7 million Won, referencing more conservative assumptions on HBM progress and pricing, though it kept an "Outperform" rating on the stock.

More optimistic was Wolfe Research analyst Chris Caso, who on September 23 raised his price target from $200 to $250 and reaffirmed an "Outperform" rating. Caso pointed to improving prices in the memory segment and the potential for future capital returns to shareholders as key reasons for his upgraded view.

HBM5 Validation and Global Expansion Plans

SK Hynix's technological credentials received another boost as the company earned recognition as Partner of the Year for the second consecutive year, following successful validation of HBM5 memory with TSMC's CoWoS packaging technology. Executive Kwak also outlined plans for global expansion of production as well as research and development. To flexibly secure capacity for standard DRAM, SK Hynix is once again outsourcing packaging steps to South Korean partner Winpac.

Solidigm IPO Speculation Remains Unresolved

Questions surrounding the company's U.S. subsidiary Solidigm remain open. On Thursday, SK Hynix stated that no decisions have been made regarding the future business operations or capital structure of the unit. Internal and external financing options are still under review, with shareholder value cited as a decisive factor. Reuters reported on September 25, citing people familiar with the matter, that Solidigm is exploring an initial public offering in the United States — a move that could value the subsidiary at up to $150 billion, though the plan remains at a very early stage.

Looking ahead, fresh catalysts for the sector are already coming into view. Samsung Electronics will release preliminary third-quarter results on October 8, offering investors further insight into the health of the memory chip market.