SK hynix Inc.(NASDAQ:SKHY) stock tanked almost 7% during Wednesday’s premarket session as investors digest profit-taking after the company’s strong U.S. listing debut, even with S&P 500 futures up 0.3%. The pullback reads like a reset after a fast run rather than a broad risk-off tape.
The ADRs have been volatile around their Nasdaq debut and the market’s AI-memory narrative, after the company completed a $26.5 billion U.S. listing and drew strong institutional demand. Commentary also flagged that the ADRs were priced at roughly a 3% premium to the Seoul-listed shares, which was viewed as within expectations.
SK hynix is a semiconductor memory manufacturer with around 60%–70% of its revenue from DRAM and 30%–35% from NAND.
Analysts See Memory Shortage Support
Meritz Securities senior analyst Kim Sunwoo told Reuters on Wednesday that DRAM suppliers are currently meeting only about 75% to 80% of demand, with shortages expected to deepen in the second half of 2026. He said that rate could fall into the 60% range in 2027, supporting higher memory prices, stronger earnings and a share-price rebound.
HSBC told Reuters that stronger AI service profitability should continue supporting cloud spending, while longer-term supply agreements could improve earnings visibility and reduce volatility.
Barclays also initiated coverage on SK Hynix’s newly listed ADRs with an Overweight rating and a $330 price forecast.
Goldman Sachs said the recent selloff in South Korean chip stocks reflected position unwinding in newly launched ETFs, while the broader semiconductor cycle remained fundamentally strong.
Price Action
SKHY Stock Price Activity: SK hynix shares were down 6.67% at $180.98 during premarket trading on Wednesday, according to Benzinga Pro data.
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