On August 3, SK hynix declined 3.75% in regular trading, trading at approximately 134.91 USD/share, with turnover of 6.14 billion USD. The drop came as multiple negative catalysts converged on the memory chip sector.

UBS lowered its target price on SK hynix from 3.2 million KRW to 3 million KRW, noting the company's Long-Term Agreement (LTA) revision progress has been faster than expected, with 10 contracts already signed. Clients include major US hyperscale cloud providers and large OEM manufacturers. UBS warned that LTAs may cap short-term average selling price upside, though they should benefit long-term margins and returns.

Simultaneously, the Korean KOSPI index suffered a sharp sell-off, with SK hynix's Korean-listed shares plunging over 7% and Samsung Electronics declining in tandem. The weakness spilled into US-listed memory stocks broadly, with Micron Technology falling 5.55%, while SanDisk and Western Digital each dropped over 3%. Notably, Moody's upgraded SK hynix's credit rating to A3 with a stable outlook on the same day, though this failed to offset the prevailing selling pressure.

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