TLDR
- SK Hynix (SKHY) stock dropped about 2% to $178.25 on Thursday, reversing an earlier gain.
- Samsung Electronics posted preliminary Q3 operating profit of 107.4 trillion won, nearly ten times higher than a year ago, but the figure missed the top end of forecasts.
- SK Hynix is pushing ahead with a U.S. IPO for its Solidigm NAND unit, with Goldman Sachs and Morgan Stanley leading a deal that could raise $10 billion.
- A lawmaker has asked SK Group Chairman Chey Tae-won to clarify the Solidigm listing plans over shareholder concerns.
- Wall Street stays bullish, with an average price target of $254.70 implying over 43% upside for SKHY.
SK Hynix (SKHY) stock fell about 2% to $178.25 on Thursday. The move erased an earlier gain and came after Samsung’s preliminary earnings failed to lift the wider chip sector.
The stock had climbed as much as 2% in early trading. It reversed sharply once Samsung’s numbers hit the wires.
Samsung Electronics reported preliminary third-quarter operating profit of 107.4 trillion won. That’s nearly ten times its profit from a year earlier.
🇰🇷 Samsung, one of the world’s largest memory chip makers, just reported Q3 preliminary operating profit of 107.40 trillion won ($80.2 billion), surging past 100 trillion won for the first time in the company’s history.
Revenue forecast of about 195 trillion won is up nearly… pic.twitter.com/cOHpNclYHN
— Jesse Cohen (@JesseCohenInv) October 8, 2026
The figure came in below the high end of analyst estimates, according to Bloomberg. Revenue for the quarter was 195 trillion won, also under consensus.
The results confirmed that demand for high-bandwidth memory used in AI servers remains strong. But investors seemed more focused on the slowing pace of growth than the headline jump.
Samsung’s own stock fell roughly 2% following the print. The KOSPI index slid nearly 2% as well, with chip stocks broadly lower.
Solidigm IPO Gathers Momentum
SK Hynix is moving forward with a U.S. listing for Solidigm, its NAND flash subsidiary. The company has selected Goldman Sachs and Morgan Stanley to lead the offering.
The deal could raise close to $10 billion and value Solidigm at as much as $100 billion. JPMorgan, Citigroup and UBS have also been brought on to work on the listing.
Solidigm was created in 2021 after SK Hynix bought Intel’s flash memory business. It now builds high-capacity drives for AI data centers and cloud providers.
SK Hynix said Solidigm is weighing its options but that no final plan has been confirmed. The IPO news has still drawn political attention at home.
A lawmaker has called on SK Group Chairman Chey Tae-won to explain the listing strategy. The concern is that a separate U.S. listing could work against existing SK Hynix stockholders.
Separately, AMD CEO Lisa Su met with SK Hynix executives in Seoul this week. The talks centered on expanding their AI chip partnership.
Wall Street Stays Bullish
Barclays analyst Simon Coles kept a Buy rating on SKHY this week with a $300 price target. That implies upside of roughly 68% from current levels.
Wolfe Research’s Chris Caso raised his target to $250 from $200, also keeping a Buy rating. He expects memory demand to outpace supply through at least 2028, and sees SK Hynix generating enough cash to buy back stock worth about 32% of its market value over 2026 and 2027.
Across the Street, SKHY carries a Strong Buy rating based on 11 Buy calls over the past three months. The average price target of $254.70 points to upside of more than 43%.
The daily chart shows SKHY in a tightening triangle pattern since August, with price grinding between a rising support line near $178 and a flat resistance band just under its all-time high of $199.87. Thursday’s drop pushed the stock right back onto that support line, making it a level worth watching for the next move.
Momentum readings have cooled alongside the price action. The RSI sits near 47, down from overbought territory above 60 in September, while the MACD line has crossed below its signal line with the histogram turning negative, pointing to fading short-term momentum even as the longer uptrend stays intact.
SK Hynix is due to report full third-quarter results on October 29.
Stop guessing and start investing with confidence. KnockoutStocks gives you the AI insights, market intelligence, and stock research you need to spot opportunities, cut through the noise, and make smarter investment decisions — all in one powerful platform.
Sign up today and get 50% OFF full access to our premium stock picks.
Simply use coupon code SPECIAL50 at checkout to claim your exclusive discount.
Be the first to comment