SK Hynix Stock Plunges 14.65% to 1.55M Won on July 28 Ahead of Q2 Results

According to Korea Economic Daily, SK Hynix shares plunged 14.65% to 1.55 million won on July 28, marking the sharpest decline in over two months. The selloff was triggered by reports that a Chinese state-backed chipmaker has begun mass production of immersion DUV lithography equipment, according to The Information.

Despite the market turmoil, analysts from Kiwoom Securities noted the sell-off appears oversold and the fundamental outlook remains positive. SK Hynix is expected to post Q2 operating profit of approximately 63.9 trillion won on July 29, representing a 594% increase year-over-year and exceeding prior quarter guidance of 72%, which would position the company ahead of TSMC on operating margin.