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The case for SK Hynix (NASDAQ: SKHY) rests on a number its better-known rivals cannot match: 56.4% of the high-bandwidth memory market in Q1 2026, according to IDC. The stock sold off after its most recent earnings.
Those two facts sit in uncomfortable proximity. The AI memory trade has been driven by surging demand for GPUs and expanding agentic AI workloads, tightening supply and lifting average selling prices.
SK Hynix's second-quarter results reflected that: revenue of 79.3 trillion Korean Won, approximately $55 billion, with operating profit of 60.54 trillion Won, a 76% margin.
Management said prices for both DRAM and NAND rose sharply quarter over quarter, with high-value products including HBM, AI-server DRAM, and enterprise SSDs leading the expansion.
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