KIS lowers SK Hynix's Q2 earnings forecast; shares fall 12%
SK Hynix shares fell 12% after a brokerage report projected Q2 earnings below market consensus. The shortfall is attributed to the company's high reliance on HBM chips, which have fixed contract pricing compared to the rising spot prices of standard DRAM and NAND.
On July 13, South Korean local brokerage KIS released a forecast report for SK Hynix's second-quarter performance. SK Hynix is expected to generate revenue of 8.09 trillion Korean won in Q2, up 54% quarter-over-quarter and a substantial 264% year-over-year; operating profit is projected at 6.04 trillion Korean won, up 61% quarter-over-quarter and 556% year-over-year.
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