SK Hynix, due to the surge in memory chip prices, continues to see its stock price rise.

SK Hynix is about to release its preliminary performance for the first quarter of 2026, with market expectations soaring, and securities firms are raising their target stock prices accordingly. This reflects the market’s judgment that, under the combined influence of rising memory semiconductor prices and expanding artificial intelligence infrastructure investments, the trend of performance improvement may last longer and be more robust than expected.

According to a report by United Infomax on the 14th, the market forecast for SK Hynix’s operating profit in the first quarter of this year is 38.5485 trillion won. This is an increase of 418.09% compared to 7.4405 trillion won in the same period last year. Among securities firms, there are institutions expecting operating profits to reach around 40 trillion won, such as Kiwoom Securities predicting 40.2810 trillion won, Heungkuk Securities predicting 40.0950 trillion won, and KB Securities predicting 40.0830 trillion won. Previously, Samsung Electronics delivered better-than-expected results, and this optimistic sentiment about the overall semiconductor industry has also fueled SK Hynix’s bullish outlook.

The stock price is also rapidly reflecting these expectations. As of 9:49 a.m. that day, SK Hynix’s stock price rose 7.21% compared to the previous trading day, trading at 385.49k won, and attempting to break through the 52-week high of 74.41k won. This can be seen as investors’ anticipatory response ahead of the earnings release. In particular, recent market assessments are not only evaluating short-term performance but also considering the sustainability of demand for high-bandwidth memory (HBM) and other high-value-added products, as well as the upward trend in ordinary memory prices.

The upward revision of target stock prices by securities firms is precisely based on the importance placed on this structural change. Kim Dong-won, head of research at KB Securities, raised the earnings forecasts for the next two years by 42% and 55%, respectively, and increased the target stock price from 1.7 million won to 1.9 million won. He explained that large technology companies, in expanding artificial intelligence infrastructure investments over the coming years, regard memory semiconductors as strategic assets that must be secured rather than costs. He also predicts that in 2026, DRAM and NAND prices will increase by 170% and 190%, respectively, compared to the previous year, and noted that SK Hynix’s operating profit ranking may rise from 4th place this year to 3rd next year.

Other securities firms share similar views. Kang Min-sook, a researcher at Korea Investment & Securities, forecasts that with the rising average selling prices (ASP) of DRAM and NAND, the company’s overall operating profit margin will reach 73.2% this year, setting a new record. She specifically pointed out that starting from the second quarter of this year, NAND’s operating profit margin may surpass that of HBM, and she has raised her target stock price from 1.5 million won to 1.8 million won. Lee Soo-rim, a researcher at DS Investment Securities, noted that the profitability of the memory market is determined not by temporary spot prices but by contract prices, and predicts that long-term supply agreements (LTAs) will serve as a safety valve to limit price declines. Based on this, she raised her target stock price from 970k won to 1.3 million won. SK Securities analyst Han Dong-hee also raised his target stock price from 1.6 million won to 2 million won, based on rising memory prices and the clarification of long-term supply agreements.

Ultimately, the market’s focus is whether performance will merely be a temporary rebound or will enter a stable high-profit phase driven by long-term contracts and AI demand. The memory industry has traditionally been highly volatile in prices, but recently, as major clients show signs of securing supply volumes in advance, the market expects the industry’s downturn to slow down more than in the past. This trend is likely to be confirmed in more detail in the preliminary earnings report to be released on the 23rd, and future stock prices and investment sentiment are expected to be reassessed based on whether actual performance levels and long-term demand can be sustained.