Micron's Strong Performance Boosts SK Hynix Shares by 13%

 
Domestic semiconductor stocks made a remarkable rebound after two days of decline. Micron Technology, a U.S. memory chip maker, reported earnings that significantly exceeded market expectations, alleviating concerns about a slowdown in AI demand. This, combined with rising optimism over SK Hynix's upcoming listing of American Depositary Receipts (ADRs) on the Nasdaq, has rapidly restored investor sentiment.
 
According to the Korea Exchange on June 25, SK Hynix shares closed at 2,917,000 won, up 13.06% from the previous trading day. Samsung Electronics also saw a 5.29% increase, closing at 358,500 won. Both companies led the KOSPI's rise, which finished up 459.28 points (5.42%) at 8,930.30. Despite individual and foreign investors selling a net 2.4931 trillion won and 822.3 billion won respectively, institutional investors purchased a net 3.347 trillion won, driving the index higher.
 
Just two days earlier, the mood was quite different. On June 23, SK Hynix shares plummeted by 12.47%, while Samsung Electronics fell by 12.31%. This decline was attributed to concerns over overheating AI investments and a correction in global tech stocks, leading to profit-taking by foreign and institutional investors. The significant drop in major semiconductor stocks caused considerable volatility in the KOSPI.
 
However, Samsung Electronics rebounded by 9.84% on June 24, continuing its upward trend, while SK Hynix surged over 15% on June 25, recovering most of its losses from earlier in the week.
 
The catalyst for this rebound was Micron's earnings report. On June 24 (local time), Micron announced that its revenue for the third quarter of fiscal year 2026 (March to May) reached $41.46 billion, more than quadrupling from $9.31 billion in the same period last year, marking the highest quarterly revenue in its history. Notably, Micron projected fourth-quarter revenue of around $50 billion, exceeding market expectations and confirming that actual customer demand is expanding, contrary to recent concerns about an AI bubble.

The anticipation of SK Hynix's ADR listing also contributed positively to the market. The company plans to issue up to 17.79 million shares, aiming to raise approximately 45 trillion won, with a target listing date of July 10.
 
Market analysts suggest that the upcoming second-quarter earnings reports from Samsung Electronics and SK Hynix are likely to exceed expectations. Lee Kyung-min, a researcher at Daishin Securities, stated, "Concerns about a slowdown in semiconductor demand and profitability, raised ahead of Micron's earnings announcement, have largely been alleviated. In particular, SK Hynix's strong performance was further bolstered by the confirmation of its ADR issuance schedule."