SK Hynix reports Q1 2026 earnings on April 23, and analysts expect a historic quarter.
Consensus among major South Korean securities firms puts Q1 operating profit between 39 and 40.4 trillion KRW (approximately $28-29 billion USD), with revenue of 53.1 trillion KRW (+62% QoQ). This would push the operating margin to roughly 70%.
Why the numbers are this strong: DRAM ASP rose ~75% QoQ on AI server demand. SK Hynix holds ~62% of the global HBM3E market (TrendForce 2025 Q2). Year-over-year operating profit growth is +439%.
The risk ahead: Samsung is pushing back on HBM4, where SK Hynix is projected to hold 55-70% share versus 28% for Samsung (UBS). HBM4 shipments begin in earnest Q2 2026.
Watch on April 23: HBM4 supply timeline, Q2 guidance, and US tariff exposure.
For the full analysis in Korean, visit Snakestock.
