Article published Sep 28, 2026. Prices below use latest available snapshots.
SKHY Price Structure
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$SKHY's U.S. listing is too new for a long-trend verdict: up 13.0% over the past 30 days and 9.0% below its 52-week high, with no 200-day average or one-year return yet. At the 2026-09-28 settled close, SKHY $181.92 was +0.4% versus its 20-day average and +13.0% over 30 days. SK hynix's July 29 Q2 release reports ₩79.3187T revenue, ₩60.5426T operating profit and ₩93.9226T net profit. The reported net figure exceeds revenue; the captured release does not explain the non-operating bridge, so no normalized earnings or valuation inference is made from it. The ADR trades at a premium to the Seoul line that can compress even if the business holds; memory is a capex-cycle business. The standing call is 🟡 Wait for a close above the life high. Entry $195–$200 on a close above $194.80 · stop $175 · first target $225 · medium conviction.
Quick Snapshot (as of 2026-09-28)
| Question | Answer |
|---|---|
| The call | 🟡 Wait for a close above the life high. Entry $195–$200 on a close above $194.80 · stop $175 · first target $225 · medium conviction |
| What is SKHY? | The Nasdaq-listed ADR of SK hynix, the Korean memory maker that leads high-bandwidth memory (HBM) for AI accelerators and also sells conventional DRAM and NAND. |
| Why look now? | Prior case (2026-09-23): Record Q2 2026 (₩79.32T revenue, 76% operating margin; company release, July 29), HBM4 mass shipments under way, and a DRAM shortage that the company is answering with capacity and long-term supply agreements. |
| What is the proof? | The Q2 numbers are company-reported single-source (no SEC XBRL facts or provider statements exist yet for this foreign filer). |
| What is the objection? | The ADR trades at a premium to the Seoul line that can compress even if the business holds; memory is a capex-cycle business. |
| Stock setup | The tape needs a qualified read because a long-window field is unavailable; +0.4% versus the 20-day, unavailable versus the 200-day, RSI 52.4. |
Action Matrix (reviewed 2026-09-28; levels are standing conditions)
| Signal | Condition | Level | Why |
|---|---|---|---|
| 🟡 Wait | Below the life high | $194.80 | The desk's standing call is a first clean post-debut base; the breakout is the confirmation |
| 🟢 Buy | A close above the July 14 life high | $195–$200 | Clears every seller since the debut week |
| 🟠 Target | First target | $225 | A planning level above the base |
| 🔴 Out | A close below the 50-day | 50-day, $162.98 on 2026-09-23 | The first long-ish reference this listing has |
| 🔴 Thesis breaks | DRAM pricing momentum reversing, or HBM4 slipping | — | The fundamental kill tests in the July report |
The Story Right Now (as of 2026-09-28)
$SKHY's U.S. listing is too new for a long-trend verdict: up 13.0% over the past 30 days and 9.0% below its 52-week high, with no 200-day average or one-year return yet.
Data as of 2026-09-28 close: SKHY $181.92, RSI 52.4, neutral, +0.4% vs SMA20, unavailable vs SMA200, 7D -3.7%, 30D +13.0%, 1Y unavailable, -9.0% from the 52-week high.
Business and mechanism. The Nasdaq-listed ADR of SK hynix, the Korean memory maker that leads high-bandwidth memory (HBM) for AI accelerators and also sells conventional DRAM and NAND.
Prior case (2026-09-23). Record Q2 2026 (₩79.32T revenue, 76% operating margin; company release, July 29), HBM4 mass shipments under way, and a DRAM shortage that the company is answering with capacity and long-term supply agreements.
Prior proof (2026-09-23). The Q2 numbers are company-reported single-source (no SEC XBRL facts or provider statements exist yet for this foreign filer).
The countercase. The ADR trades at a premium to the Seoul line that can compress even if the business holds; memory is a capex-cycle business.
Newest statement check. SK hynix's July 29 Q2 release reports ₩79.3187T revenue, ₩60.5426T operating profit and ₩93.9226T net profit. The reported net figure exceeds revenue; the captured release does not explain the non-operating bridge, so no normalized earnings or valuation inference is made from it.
Recent source context. SK hynix's September 28 newsroom report describes its HBM4 and SOCAMM2 presence in NVIDIA's Vera Rubin display at TSMC's OIP conference and a packaging collaboration award. It is technology-positioning evidence, not a new shipment, customer order, margin or guidance figure; no cause is assigned to the 5.0% stock decline.
News and attention check. The news search for the latest move failed; the last completed search was on 2026-09-17. No company event for SKHY was recorded between September 24 and 28. 3 social posts from tracked accounts mentioned it between September 24 and 28; that is attention, not company news.
The call: 🟡 Wait for a close above the life high. Entry $195–$200 on a close above $194.80 · stop $175 · first target $225 · medium conviction.
Extended analysis
Price Data (live — latest settled close)
A live table: every cell shows the latest settled close, named in the first row. Dated readings live in the Research Log.
| Metric | Value |
|---|---|
| As of (settled close) | 2026-10-16 |
| Price ($) | 136.49 |
| RSI (14) | 27.6 |
| 20-day average ($) | 176.88 |
| vs 20-day (%) | -22.8 |
| 50-day average ($) | 170.67 |
| vs 50-day (%) | -20 |
| 1D (%) | -6.58 |
| 7D (%) | -19.25 |
| 30D (%) | -21.95 |
| From 52-week high (%) | -31.71 |
The tape so far (debut through 2026-07-29 — history)
Debut 07-10: opened $170 (+2.4% over offer), closed $168.01 on 107.7M ADRs. 07-13: dumped to $152.35 — the same day Seoul fell ~15% post-debut (captured 07-13). 07-14: ripped +28.8% off that low to the $194.80 life high, closing $193.92 — the speculative crescendo. Then a five-session fade to ~$151, a three-day bounce to $169.50 (07-23), and the four-day, −23.2% collapse into the Q2 print. There has been no base at any point — the tape has been air-pocket, spike, and unwind.
The money — Q2 2026, reported this morning (2026-07-29)
Verified against the company release (SK hynix Newsroom):
| Q2 2026 (K-IFRS) | Value | vs Q1 2026 |
|---|---|---|
| Revenue | ₩79.32T | ₩52.58T (+51% QoQ; +257% YoY) |
| Operating profit | ₩60.54T (76% margin) | ₩37.61T (~72% margin) — margin expanded |
| Net profit | ₩93.92T (118% net margin) | Net exceeds revenue; the release gives no breakdown — non-operating items dominate, unexplained. Treat the net line with caution |
| H1 cumulative revenue | crossed ₩100T | First time in company history |
Roadmap: HBM4 mass shipments began in Q2 with the ramp planned for H2; HBM4E completed sample shipments in H1 — ahead of the "samples H2 2026" timeline in our July 6 report. Capex language emphasized "CapEx Discipline" with phased build-out (P&T7 packaging, M17 NAND, new cluster) — directly addressed at the lane's standing #1 risk, the capex glut.
The bear reads, same morning: one outlet framed the record as a miss vs estimates (Quartz); Investing.com flagged the ADR trading at a steep premium to the Seoul line as an AI-bubble tell — an SKHY-specific risk, since a premium can compress even if Seoul holds. Against that: Citi reiterated Buy calling the pullback unjustified "peak-out" fear, and Bernstein stayed bullish on memory after the Samsung–NVIDIA deals (all 2026-07-29 news pull).
Cohort check (2026-07-31 closes)
| Name | From 52wk high | 7D | 30D | RSI | Note |
|---|---|---|---|---|---|
| SKHY | −26.22% | −7.01% | −14.45% | 44 | Recovering off the post-Q2 low; series still short |
| MU | −34.42% | −10.63% | −20.26% | 43.8 | The US-listed comp — deeper drawdown than SKHY now |
| STX | −25.23% | +0.52% | −6.45% | 50 | Best-recovered of the group |
| WDC | −31.88% | +4.82% | −8.95% | 51 | |
| SNDK | −48.4% | −15.43% | −40.22% | 40.8 | Worst in the complex |
| 005930.KS (Samsung) | −33.38% | 0% | −20.67% | 46.1 | |
| EWY | −28.88% | −3.6% | −15.31% | 42.1 | The Korea/KOSPI beta |
SKHY is now mid-to-better-than-pack — its 7D/30D drawdown has narrowed faster than MU and SNDK, though STX and WDC have recovered further. This still reads as the memory-cohort unwind plus Korea beta stabilizing together, not a broken or a uniquely-repaired SKHY story. The instrument-specific overhangs (ADR premium, day-old supply digestion) are easing but not resolved.
Research Log
| Date | Update |
|---|---|
| 2026-07-06 | Pre-debut company report published (digest.company-report) with the standing watch call; investigation on the four US-listing levers. |
| 2026-07-10 | Listed on Nasdaq. IPO event confirmed; the desk did not take the ticker into coverage (the gap this profile closes). |
| 2026-07-13 | One-off fetch during the Seoul −15% day; capture filed. No watchlist add — data went stale. |
| 2026-07-29 | Intake: promoted to the family's scanner/trade symbol, added to memory + ai-scan, first summary row (regime honestly "too-young"). Q2 record print verified against the company release. This profile. |
| 2026-07-31 | Tape refresh only: RSI now computable (44, first read), price $143.73, −26.22% from life high (narrowed from −33.2%). Cohort (MU/STX/WDC/SNDK/Samsung/EWY) also stabilizing off lows. No new fundamentals re-researched. |
| 2026-08-08 | Tape refresh only: price $137.91 (-4.05% vs 07-31), RSI 42.8, first computable SMA20 ($153.19, -10% below). 30D deepened to -17.92%. No new fundamentals re-researched. |
| 2026-08-14 | Tape refresh only: price $166.33 (+20.61% vs 08-08), RSI 53.5, reclaimed SMA20 ($149.90, +11.0% above). 7D +20.61% (turned positive), 30D -5.74% (moderated). -14.95% from life high (narrowed sharply from -22.47%). News not pulled for this move; no new fundamentals re-researched. |
| 2026-08-22 | Tape refresh only: price $163.41 (-1.75% vs 08-14), RSI 52.1 (roughly flat), SMA20 $149.76 (+9.1% above, narrowed from +11.0%). 7D -1.74% (turned negative), 30D -1.13% (moderated). -16.11% from life high (widened from -14.95%). News not pulled for this move (SKHY news cache last fetched 2026-07-31); no new fundamentals re-researched. |
| 2026-08-28 | Tape refresh only: price $161.04 (-1.45% vs 08-21), RSI 51.5 (roughly flat), SMA20 $154.91 (+4.0% above, narrowed sharply from +9.1%). 7D -1.52% (roughly flat), 30D +27.01% (accelerated as the window now spans the 08-14 reversal). -17.33% from life high (widened from -16.11%). News not pulled for this move (SKHY news cache still last fetched 2026-07-31, now four weeks stale); no new fundamentals re-researched. |
| 2026-09-04 | Tape refresh only: price $177.00 (+9.91% vs 08-28, incl. a +8.14% single-day move), RSI 59.8 (warmed from 51.5), SMA20 $159.98 (+10.6% above). 7D +9.97% (turned positive), 30D +17.20% (moderated). -9.14% from life high — the best mark since this file opened, and now the LEAST drawn-down name in the tracked memory cohort (MU/STX/WDC/SNDK/Samsung/EWY), a reversal from mid-pack. The news cache was refreshed this cycle (fetched 2026-09-04/05), but its items are all earnings-preview pieces dated before the move — no SKHY-specific item found. Move reads as cohort-wide memory/HBM re-rating (sector data), not a confirmed company-specific catalyst. No new fundamentals re-researched. Desk-call review is now lapsed (target was 2026-08-01) given the price-leg change — flagged for the desk. |
| 2026-09-11 | Tape refresh only: price $190.07 (+7.38% vs 09-04, incl. a +0.94% single-day move on 09-11), RSI 62.1 (warmed from 59.8), SMA20 $168.26 (+13.0% above). 7D +7.38% (roughly flat), 30D +23.09% (accelerated). The distance from the 52-week high field tightened to -4.9%, tighter than the $194.80 life high would produce, implying a fresh high was set this week (not independently confirmed — raw OHLC not read). Cohort check this cycle (memory.json): the broader complex (MU/STX/WDC/SNDK/Samsung) was flat-to-down on the day, only SKHY and EWY up — SKHY is diverging positively, not riding a sector rally. News last pulled 2026-09-08 (three days stale) with no item dated to this week's push; cause unknown for the continued strength. No new fundamentals re-researched. Desk-call review remains lapsed (target was 2026-08-01). |
| 2026-09-18 | SKHY $187.50, RSI 59.1, neutral (regime still too-young); 1D +2.46% on 4.27x average volume; 7D -1.35%, the first down week since early August; 30D +20.07%; -6.19% from the 52-week high. SMA50 is available for the first time in this file at $161.80 (price +15.9% above); SMA20 $172.42 (+8.7% above); SMA200, 3M, 1Y and alpha remain unavailable — no multi-year trend judgement is possible from this listing's tape. News receipt last written 2026-09-17, one session before this close, carrying a 2026-09-16 DRAM-shortage and capacity-expansion story and the Q2 2026 results already folded here; news was not pulled for Friday's move. Friday was quarterly options expiry across the tape. Stock-events checked: no SKHY row dated 2026-09-12 to 2026-09-18. No filings cache exists for this foreign issuer (financials waiver stands). Desk-call review remains lapsed (target was 2026-08-01). |
| 2026-09-23 | SKHY $189.28, RSI 58.4, neutral (regime still too-young); 1D -3.12%; 7D +8.24%; 30D +21.83%; -5.30% from the 52-week high — the shallowest drawdown in the memory summary (MU -14.59%, STX -19.31%, SNDK -22.84%, EWY -15.95%), though the US memory names outran it on the week. SMA20 $177.18 (+6.8%), SMA50 $162.98 (+16.1%); 200-day, 3M, 1Y and alpha still unavailable. Top rewritten with a breakout call at the July 14 life high ($194.80). Dated items: Reuters on Intel talks (09-16), an attributed X post on DRAM margins outpacing HBM (09-19). Micron's print moved to 2026-09-30. Stock-events checked: no SKHY row dated 2026-09-19 to 2026-09-23. News not pulled for this week's sessions — receipt last written 2026-09-17. No filings cache for this foreign issuer (financials waiver stands). Desk-call review remains lapsed (target was 2026-08-01). |
| 2026-09-28 | SKHY $181.92, RSI 52.4, +0.4% vs SMA20, 30D +13.0%. The tape needs a qualified read because a long-window field is unavailable; SK hynix's July 29 Q2 release reports ₩79.3187T revenue, ₩60.5426T operating profit and ₩93.9226T net profit. The reported net figure exceeds revenue; the captured release does not explain the non-operating bridge, so no normalized earnings or valuation inference is made from it. The news search for the latest move failed; the last completed search was on 2026-09-17. No company event for SKHY was recorded between September 24 and 28. |
Sources
- SK hynix Newsroom Q2 2026 results — https://news.skhynix.com/en/q2-2026-business-results/ (primary, fetched 2026-07-29)
- Quartz — record profit misses estimates — https://qz.com/sk-hynix-q2-2026-earnings-record-profit-misses-estimates-072926
- SKHY 6-K (Q2 results furnish) via StockTitan — https://www.stocktitan.net/sec-filings/SKHY/6-k-sk-hynix-inc-current-report-foreign-issuer-167ac8f74d3a.html
- News pull 2026-07-29 (Citi, Bernstein, ADR-premium pieces), the 2026-09-04/05 pull (earnings-preview items only), and the 2026-09-08 pull (no item dated to the 09-11 move) — latest
- Price/RSI truth: ai-scan, memory (2026-09-23 close)
- Intel talks: Reuters, 2026-09-16 via 2026-09-21-market-brief; DRAM-margin post (attributed): @mindmoon_108, 2026-09-19; @aleabitoreddit, 2026-09-21.
- Micron date revision: 2026-09-23-mu-earnings (moved to 2026-09-30).
- News receipt: latest (fetched 2026-09-17, before this week's sessions)
- Scheduled-event check:
research/stock-events/— no SKHY row dated 2026-09-12 to 2026-09-23 - Pre-debut report: 2026-07-06-sk-hynix-skhy-nasdaq-adr-hbm-monopoly-report; desk-call target: 2026-07-07-skhy-target-desk-call
- Financials note: EDGAR CIK 0002120882 has no XBRL facts yet (F-1/6-K foreign filer; first 20-F pending) and Massive returns no SKHY financials — Q2 figures above are company-reported single-source, so no EDGAR-vs-Massive reconciliation was possible (financials waiver).
2026-09-28 refresh receipts
2026-09-28 settled-close receipt: *, SKHY row dated 2026-09-28; tape values above are bound to the current summary fields.
2026-09-28 financial-source gap: current Massive/SEC direct-quarter cache does not establish an issuer quarter; retained prior dated issuer/report citations and marked the gap above.
2026-09-28 issuer-report check: SK hynix's July 29 Q2 release reports ₩79.3187T revenue, ₩60.5426T operating profit and ₩93.9226T net profit. The reported net figure exceeds revenue; the captured release does not explain the non-operating bridge, so no normalized earnings or valuation inference is made from it. This source supplies the 2026-06-30 report period where the machine-readable direct-quarter cache has a gap.
2026-09-28 news receipt check: latest, fetched 2026-09-17; receipt is not current; latest-session cause remains unassigned.
2026-09-28 stock-event scan:
research/stock-events/, no SKHY row dated 2026-09-24 through 2026-09-28.2026-09-28 source-page check: SK hynix's September 28 newsroom report describes its HBM4 and SOCAMM2 presence in NVIDIA's Vera Rubin display at TSMC's OIP conference and a packaging collaboration award. It is technology-positioning evidence, not a new shipment, customer order, margin or guidance figure; no cause is assigned to the 5.0% stock decline. The Chrome CDP source-page capture is under 2026-09-28-raw.
2026-09-28 captured-follows scan: tweets has 3 September 24–28 document(s) tagging SKHY.
Retrospective social-search receipt (captured 2026-09-29): 2026-09-29-social-search-skhy; quality/attention check only, not a September 28 event or price source.
2026-09-29 browser discovery check for SKHY: news-discovery-google-sep29 (key
SKHY); search links only, not evidence of an event or of absence of news.