SK Hynix expected to report record Q2 profit Wednesday amid AI memory boom

SK Hynix is expected to post an all-time high operating profit when it reports second-quarter 2026 results on Wednesday, July 29, capping a period of extraordinary growth driven by insatiable demand for AI memory chips.

Analysts Forecast Blowout Quarter

According to market consensus compiled by Yonhap Infomax from 14 securities firms, SK Hynix's Q2 operating profit is projected at 64.09 trillion won, representing an increase of nearly 600% year-over-year. Revenue is forecast to reach approximately 84 trillion won. The operating profit margin is expected to climb to between 75% and 77%, up from the 72% record set in Q1.trendforce+2

Korea Investment & Securities estimates the margin could reach 74.6%, while FnGuide data suggests an even more bullish figure of roughly 77%. Some individual analysts have issued lower forecasts — KIS Semicon analyst Minsook Chae projected 60.4 trillion won, about 8% below the broader consensus — but the prevailing view among brokerages remains that SK Hynix will shatter its previous quarterly record.binance+1

AI Data Center Demand Fuels the Supercycle

Analysts attribute the performance to what they describe as a prolonged memory supercycle. Continued price increases in commodity DRAM, expanded sales of high bandwidth memory, and surging demand for enterprise SSDs — fueled by heightened AI data center investments from North American cloud service providers — collectively underpin the earnings surge. S&P Global Market Intelligence ↗ 3.39% estimates Q2 revenue will rise 260% year-on-year, with DRAM generating approximately $40.4 billion and NAND flash contributing $13.1 billion.spglobal+1

The company's Q1 results already set records, with revenue of 52.58 trillion won (up 198% year-over-year) and an operating margin of 72%.moomoo+1

Stock Volatility Follows Historic US Listing

The earnings report arrives amid turbulent trading for SK Hynix shares. The company completed a landmark $26.5 billion Nasdaq ↗ 1.17% listing on July 10 — the largest-ever U.S. debut by a foreign company. Shares subsequently fell sharply as investors took profits, declining from highs near 2.99 million won on the Korea Exchange to around 1.76 million won by late July.investing+2

Despite the recent pullback, SK Hynix's stock remains up more than 600% over the past 12 months, reflecting investor confidence in the company's dominant position in HBM chips used to train and run AI models. The earnings call, scheduled for 9:00 a.m. Seoul time on July 29, will be closely watched for management guidance on whether memory pricing and margins can sustain their trajectory.stocktitan+2