SK Hynix posts record Q3, says HBM sold out through 2029, sees memory shortage through 2030
What happened
SK Hynix reported record third-quarter results overnight, with revenue of 104.62 trillion won (up 327.9% year over year and 31.9% sequentially, the first quarter above 100 trillion won) and operating profit of 83.33 trillion won (up 632.1% year over year), beating the FnGuide consensus of 98.23 trillion won in revenue and 76.96 trillion won in operating profit. The operating margin hit a record 79.7%. CEO Kwak Noh-jung said on the earnings call that HBM is sold out through 2029 under long-term agreements, with 14 major customers covering more than half of planned 2027-2028 production capacity, and the company forecast memory supply shortages lasting through 2030. HBM4 shipments are ramping and are expected to overtake HBM3E in volume and revenue in Q4. The board also approved a shareholder return plan of up to 100 trillion won (roughly $75 billion), the largest in company history. Seoul-listed shares rose about 4% and the ADR gained overnight, though IBD noted the ADR's overnight move was modest after a recent plunge.
Why it matters & what’s next are part of Pro, along with the audio summary.
Start your free 14-day trialWho’s affected
- SK Hynix (000660) — Seoul shares +4% on the results; ADR rose overnight
- Nvidia (NVDA) — SK Hynix is its key HBM supplier; secured HBM supply supports accelerator shipments
- Micron (MU) and Samsung Electronics — memory peers; tight supply and rising prices support the whole DRAM complex
- AI infrastructure names broadly (Broadcom, TSMC) — validates sustained AI hardware demand into 2027-28