SK Hynix Shares Recover After Volatile U.S. Listing

Shares of SK Hynix Inc. rose 8.02% to $153.02 on Wednesday, rebounding from a month of volatility that saw the stock decline 19.48% to $135.29. The fluctuations followed the company's July 2026 Nasdaq listing of American depositary receipts, which raised approximately $26.5 billion to fund equipment purchases and capacity expansion.

The company reported record second-quarter 2026 revenue of 79.32 trillion won and an operating profit increase of 557% to 60.54 trillion won. This growth is driven by high-bandwidth memory (HBM) products supplied to major customers, including Nvidia. SK Hynix has begun mass shipments of HBM4 and targets volume production of HBM4E for 2027.

To support long-term demand, the company is investing $38.1 billion in new DRAM and NAND fabrication plants in Yongin and Cheongju, with 2026 capital spending projected in the high-40-trillion-won range. While analysts from firms like Macquarie Group and Chase Bank remain bullish, citing a near-monopoly on HBM3 and HBM3E, risks include potential margin compression from competitors Samsung Electronics and Micron Technology, as well as geopolitical risks related to a packaging plant in Chongqing.