[Market Focus] SK Hynix Drops Over 5% on Weak HBM Price Outlook

On July 17, SK Hynix shares fell more than 5% in early trading. Investor sentiment appears to have weakened due to a downward outlook for memory semiconductor prices.

As of 9:18 a.m. on this day, SK Hynix shares were trading at 280,000 won, down 5.41% from the previous trading day. The stock opened at 283,500 won and has continued to widen its losses.

Daishin Securities, in its semiconductor industry price outlook report released on the same day, lowered its price forecast for next year, reflecting a reduced price premium for high bandwidth memory (HBM4). Regarding SK Hynix, the firm stated, "Even amid falling HBM prices, SK Hynix is expected to maintain excellent profitability (with an annual HBM operating margin of 55% projected for 2026)," but also analyzed, "From a valuation perspective, short-term rerating (drivers for share price increases) may be limited, which reduces the attractiveness of the stock compared to the past."

On the same day, Goldman Sachs also downgraded its investment rating to 'neutral,' stating, "As competition in the HBM market intensifies, SK Hynix's pricing power is likely to weaken." Goldman Sachs pointed out, "SK Hynix's operating profit in 2026 is expected to decrease compared to this year," and added, "Since the share price has already risen significantly, we are shifting to a more conservative stance in consideration of performance risks."

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