On July 21, SK Hynix rose 3.04% overnight, trading at $155.48/share with turnover of $48.25 million. The rebound followed SK Group Chairman Chey Tae-won's public remarks projecting AI semiconductor demand to surge 60% to 100% year-over-year next year, with overall memory demand growth of 50% to 60%, while major manufacturers have virtually no substantive capacity expansion plans—implying a widening supply-demand gap.

The stock had previously declined over 16% across two consecutive trading sessions, with its ADR briefly falling below the $149 IPO price. Korean brokerage Meritz Securities noted SK Hynix's forward PE ratio for 2027 had dropped to approximately 3.5x, a historically extreme low, calling the current level a contrarian buying opportunity. Chairman Chey also disclosed that SK Hynix is scouting U.S. factory sites to boost supply capacity. The broader U.S. storage sector rallied in sympathy, with Lumentum and Credo rising over 4%, and Marvell Technology gaining over 3%.

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