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SK Hynix's Q2 operating profit expected to exceed $3.63 billion

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According to Bloomberg, at least 19 analysts have revised their estimates for SK Hynix's second-quarter earnings upwards in the past month, driven by the massive market opportunity presented by the AI boom. Bloomberg's median forecast for SK Hynix's Q2 operating profit is 5 trillion won (approximately $3.63 billion), marking the highest level in six years.

Goldman Sachs Group raised its target price for SK Hynix to 290,000 won on Tuesday. Citigroup also increased its target price for SK Hynix to 350,000 won last week.

Roh Jongwon, CEO of Infinity Global Asset Management, said that SK Hynix's stock valuation does not fully reflect the potential of High Bandwidth Memory (HBM), which generates almost twice the profit of traditional DRAM chips, yet the market currently values both products equally.

It's worth noting that SK Hynix announced on June 30th a 103 trillion won investment to strengthen its chip business, with a primary focus on AI, by the end of 2028. 80% of the funds will be allocated to the HBM business.

Editor:Lulu

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