SK Hynix stock surged as much as 15% to a record high of 2,987,000 won on Thursday, closing up around 13% in South Korean trading.
The jump came from two separate catalysts hitting at the same time — a major U.S. listing announcement and blowout earnings from rival Micron.
SK Hynix confirmed Wednesday that it will list American Depositary Receipts on the Nasdaq Global Select Exchange on July 10. The company is targeting around $29–$30 billion in the process.
Because the announcement came after Korean markets had already closed Wednesday, Thursday was the first session investors could react. They reacted strongly.
The KOSPI Index also had a strong session, climbing over 6%. That continued a sharp rebound from a 10% drop earlier in the week. The index has now climbed 112% in 2026.
Micron reported quarterly revenue of $41.5 billion, well above Wall Street’s estimate of $35.9 billion. That’s a 346% rise year over year.
Guidance was even stronger. Micron pointed to revenue of around $50 billion in its fiscal fourth quarter, again beating expectations by a wide margin.
CEO Sanjay Mehrotra said he expects tight market conditions to persist beyond 2027, driven by AI demand across all segments and structural supply constraints.
That kind of forward guidance matters for SK Hynix. The two companies compete directly in DRAM and high-bandwidth memory, meaning strong pricing conditions for Micron generally point in the same direction for SK Hynix.
SK Hynix dominates the high-bandwidth memory market, which has been one of the most in-demand components for AI infrastructure buildout. That positioning has made the stock acutely sensitive to AI trends.
The rapid expansion of data centers by global tech companies has tightened global memory supplies over the past year. That has pushed up prices for both standard DRAM and HBM.
SK Hynix, Micron, and Samsung have all seen major gains from that demand cycle. But SK Hynix has outpaced both.
The stock has risen more than 300% in 2026 alone, making it one of the best-performing stocks in the world this year.
It recently overtook Samsung to become South Korea’s most valuable company — a milestone that would have seemed unlikely not long ago.
The upcoming Nasdaq ADR listing on July 10 will give U.S. investors direct access to the stock for the first time through an exchange-listed product.
Micron’s quarterly results were the most recent data point confirming that AI-driven memory demand remains strong heading into the second half of 2026.
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