Record Samsung earnings driven by AI memory demand failed to reassure investors, sending Samsung and SK Hynix lower and pushing South Korea’s Kospi into correction territory amid uncertainty over future memory demand.
Samsung Electronics reported record second-quarter 2026 operating profit of 89.4 trillion won, about $58.4 billion, on revenue of roughly 171 trillion won, but its shares fell sharply as investors focused on a slight revenue miss, elevated valuations and uncertainty over future memory demand. The selloff spread to SK Hynix and the broader market, with the Kospi falling more than 5% in the session and more than 20% below its June record high, while U.S. technology-linked futures also weakened. Despite the pullback, Samsung, SK Hynix and Micron still control more than 95% of the DRAM market, and the newer report said the decline should not be read as evidence that the global memory shortage has ended.