Seoul, Feb 2, 2026, 00:45 KST — Market closed
- After a solid January rally, SK hynix enters the new week trading close to its record highs.
- New trade figures from South Korea kept chips and memory prices in focus.
- Investors are balancing strong AI-driven demand with concerns over consumer electronics slumping and tariff uncertainties.
SK hynix (000660.KS) is set to open Monday’s Seoul session following a sharp rise in South Korea’s semiconductor exports in January, keeping spotlight on the memory-chip sector. According to trade ministry figures, semiconductor exports soared 102.7%, pushing total exports up 33.9% to $65.85 billion. Analyst Park Sang-hyun at iM Securities called the surge “expected to continue for the time being.” (Reuters)
SK hynix has become a key indicator for one clear trend: AI server expansions are keeping memory supplies constrained, which in turn keeps prices steady. Investors want proof the cycle is sustainable, not just a single strong quarter.
High-bandwidth memory, or HBM, refers to stacked DRAM located next to AI processors, and it’s the segment commanding premium prices. When supply tightens in this area, the ripple effect hits the broader stock lineup.
SK hynix shares ended Friday at 909,000 won, marking a 5.57% rise, having hit 931,000 won during the session, per Investing.com data. (Investing)
On Jan. 28, SK hynix reported a record operating profit of 19.2 trillion won ($13.5 billion) for the December quarter, surpassing forecasts. The company also projected rapid memory demand growth driven by rising AI expenditures. Additionally, SK hynix announced it would cancel treasury shares worth 12.2 trillion won, about 2.1% of total shares outstanding. Macquarie Equity Research estimates the firm’s HBM market share at 61%. (Reuters)
End customers are starting to push back. Apple CEO Tim Cook noted, “We do continue to see market pricing for memory increasing significantly.” SK hynix echoed this on its earnings call, saying “PC and mobile customers are adjusting purchase volumes” amid rising prices. Research firms IDC and Counterpoint now forecast global smartphone sales will shrink by at least 2% this year, while IDC predicts the PC market will contract by at least 4.9% in 2026. (Reuters)
Competition is heating up. Samsung Electronics aims to kick off production of its next-gen HBM4 chips next month, targeting Nvidia as a customer, according to a source familiar with the matter who spoke to Reuters. SK hynix, meanwhile, is set to start ramping up silicon wafer production next month at its new Cheongju fab, M15X, for HBM chip manufacturing, an executive told Reuters earlier. (Reuters)
Beyond its fabs, the company has signaled a wider move into the AI sector. In a regulatory filing from January, SK hynix revealed it’s exploring options like setting up a U.S. unit dedicated to AI investment, following a report from local media. (Reuters)
Trade policy remains a key variable for Seoul’s chip stocks. At the end of January, U.S. President Donald Trump warned of increased tariffs on certain South Korean goods, causing the KOSPI to drop before buyers jumped back in. “Some investors took today as an opportunity to buy-on-the-dip,” said Kiwoom Securities analyst Lee Sung-hoon. (Reuters)
SK hynix faces the danger that limited supply could spark demand destruction beyond data centres. If PC and smartphone manufacturers continue cutting orders and reworking designs to use less memory, pricing power could evaporate fast.
The next test arrives at the Feb. 2 open in Seoul: can SK hynix stay above 900,000 won? Traders will also be scrutinizing export data for clues on memory contract pricing. Any new updates on U.S. tariffs and Seoul’s reaction will draw close attention.
