On July 29, SK hynix declined 3.99% in pre-market trading, trading at $127.85/share, with turnover of approximately $85.72 million.

The sell-off was triggered by the company's Q2 earnings report released post-market the prior session, which marked its first consensus miss during the current AI supercycle. Operating profit surged 557% year-over-year to 60.54 trillion KRW and revenue jumped 257% to 79.32 trillion KRW, both record highs, yet fell short of market expectations of 64 trillion and 84 trillion KRW respectively. Operating margin reached a historic 76.3%, surpassing even NVIDIA's gross margin.

Analysts noted that approximately 50% of revenue is locked by long-term agreements with around 10 customers, limiting upside from spot price surges. Management maintained an optimistic outlook, stating AI infrastructure investment remains robust, HBM4 mass shipments began in Q2 with capacity expansion planned for H2, and HBM4E production is on track for early next year. The company also signaled plans for enhanced shareholder returns.

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