SK Hynix Q2 Profit Surges 557% Yet Stock Drops 10% Below Expectations

SK Hynix reports record Q2 operating profit of 60.5 trillion won, up 557% YoY, but misses LSEG estimates. Shares fall 10% as Apple evaluates CXMT chips amid policy uncertainty.

Woofun AI reports that SK Hynix announced second-quarter revenue of 79.3 trillion Korean won and an operating profit of 60.5 trillion Korean won, marking year-on-year increases of 257% and 557%, respectively. Despite the record profit, the figure fell short of LSEG SmartEstimate's 64 trillion won forecast, causing the stock to drop 10% post-announcement. The company attributed constrained DRAM price increases to delays in advanced product shipments.

Meanwhile, Polymarket data indicates a 41% probability that Apple will purchase CXMT memory chips in 2026. Reports suggest Apple is testing CXMT DRAM for China-bound devices, while executives have proposed using CXMT and YMTC chips in non-US products, a move Micron is lobbying against. CXMT recently completed an $8.6 billion IPO, with its share price surging 466% on the first day.