Why SK Hynix (SKHX) fell 12.43%
SK Hynix (SKHX) fell 12.43% on July 29, 2026 — Record profit misses estimates, disappoints investors.
What happened
SK Hynix posted record second-quarter profit but missed analyst estimates, disappointing investors despite absolute earnings strength — the miss triggered a selloff as part of the broader Korea Tech theme decline.
Why it moved
Record profit with a miss suggests guidance or forward expectations fell short of the HBM-cycle bull case; even strong current earnings can compress multiples if forward visibility darkens (e.g., HBM demand flattening…
Why it matters
SK Hynix and Samsung had captured HBM-cycle strength and driven the Korea Tech theme higher, but this miss lands amid a broader month-long selloff tied to China export roadblocks and Korean won weakness — the earnings…
What would break the thesis
If SK Hynix's Q3 guidance reassures on sustained HBM demand and pricing power, the stock can recoup losses; absence of that comfort suggests the HBM supercycle narrative is fading and the stock faces further downside.