SKHY
Record profits, rude reception
SK hynix did the part companies dream about: it posted its most profitable quarter ever. Second-quarter operating profit came in at 60.54 trillion won, with a jaw-dropping 76% margin — the kind of number that makes most CFOs need a glass of water.
So why is the stock getting body-slammed?
Because the market is a mood, not a spreadsheet. Even with that blockbuster quarter, the company still missed analyst estimates, and the stock is on pace for its worst month since June 2002, down 47% in July.
What this means for investors
This is the classic “great business, brutal stock” split-screen:
- SK hynix is still printing huge profits, which says demand for memory chips remains powerful.
- But missing expectations can be enough to flip the market from applause to side-eye.
- And when a stock has already run hot, perfection tends to get priced in like premium movie tickets.
The iShares MSCI South Korea ETF, EWY, was also mentioned, closing Tuesday 31% below its 52-week high — a reminder that the pain isn’t just one stock, it’s part of a broader Korea tech unwind.
Big picture: SK hynix may be making more money than ever, but in 2026 the bar is apparently set somewhere in orbit.