SK hynix reported record second-quarter revenue of 79.3 trillion won, roughly $55.6 billion, but the memory maker still fell short of the numbers investors expected from the AI boom.
Analysts had projected revenue of about 84 trillion won, or approximately $58 billion, by the end of June. The shortfall was linked to slower HBM4 shipments, with that revenue expected to appear in the company’s next quarter instead.
Even with the miss, SK hynix’s results were far from weak. The company’s official second-quarter results show a 257% year-over-year increase in quarterly revenue. Investors responded less kindly, sending the company’s shares down about 9.6%.
AI demand remains strong, but expectations are enormous
The reaction reflects how high expectations have climbed around AI hardware. Investors have also been frustrated by SK hynix’s limited detail on how it plans to benefit directly from the wider boom, according to Reuters’ report on the results.
SK hynix said it expects memory demand to continue. The company is expanding multi-year contract discussions with customers to improve supply stability over the medium and long term. It also said it had finalized long-term agreements, which typically run for five years, with 10 customers.
The company plans to raise capital spending to around 40 trillion won, or $27.6 billion, this year. That spending is intended to support the continued demand for memory products, including the high-bandwidth memory used in AI systems.
PC builders may still face higher memory costs
For PC buyers, record revenue at a major memory supplier does not mean cheaper upgrades are on the way. Demand from AI infrastructure continues to compete with the supply needed for consumer hardware, keeping pressure on RAM and SSD prices.
Supply could become even tighter in 2027. An Apacer forecast cited in a recent memory-market report suggested manufacturers might release only around 30% of their 2026 supply volume next year. That would represent a possible 70% reduction, although it remains a forecast rather than a confirmed production target.
SK hynix’s results show that memory makers are earning heavily from AI demand, but they also show how quickly investor expectations can outpace even enormous financial gains. The company’s next quarter will reveal whether delayed HBM4 revenue helps close that gap.
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