KIS projected Q2 revenue of KRW 80.9 trillion and operating profit of KRW 60.4 trillion, saying long-term HBM contract pricing constrained average selling price gains despite strong growth and maintaining a buy rating.
SK Hynix shares fell more than 10% to below KRW 2 million after Korea Investment & Securities (KIS) forecast second-quarter revenue of KRW 80.9 trillion and operating profit of KRW 60.4 trillion. The operating profit estimate implies growth of 61% quarter on quarter and 556% year on year, and is about 8% below the KRW 65 trillion market consensus. According to KIS and South Korean brokerage estimates cited by Citrini analyst jukan on X, SK Hynix’s higher HBM revenue mix and long-term HBM contract pricing limited average selling price gains relative to peers. KIS maintained its KRW 3.8 million target price and buy rating, while cutting its 2026 and 2027 profit forecasts by about 9% and 11%, respectively.