SK Hynix reported record Q2 2026 results with revenue of 79.3 trillion won, up 257% year-over-year and 51% sequentially from the prior quarter. Operating profit reached 60.5 trillion won, a 557% increase. Despite these exceptional performances, the stock dropped roughly 10% as revenue fell short of analyst expectations at 84 trillion won, and concerns about a slowdown in HBM4 shipments fueled selling pressure. The stock now trades at approximately 5 times next year’s expected earnings, a low multiple for a company posting triple-digit growth and controlling roughly 58% of the global HBM market.
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