SK Hynix (SKHY) Stock Falls 6% After SanDisk Guidance Disappoints
TLDR
- SK Hynix ADR fell 6.3% to $141.50, dragged down by weak forward guidance from SanDisk
- Korean-listed shares dropped nearly 10% overnight with heavy foreign selling
- Western Digital also tumbled after-hours despite beating earnings estimates
- Subsidiary Solidigm launched a pre-IPO fundraising round targeting up to $7 billion
- J.P. Morgan says the Asia tech sell-off has not derailed the AI investment cycle
SK Hynix’s U.S.-listed ADR dropped 6.3% in morning trading on Thursday, hitting $141.50.
The selloff was triggered after SanDisk reported earnings Wednesday evening. SanDisk beat both revenue and profit estimates, but its forward guidance came in below analyst expectations at the midpoint.
That was enough to spook the memory sector.
Western Digital reported the same night and also beat estimates, yet its stock still tumbled in after-hours trading. The back-to-back reactions pointed to a market worried that the memory upcycle is losing steam faster than expected.
The damage in Seoul was worse. SK Hynix’s Korean-listed shares fell roughly 10%, driven by heavy foreign selling. The stock briefly hit South Korea’s 30% daily limit-down threshold on the Nextrade alternative premarket system, though only 11 shares changed hands in that session. Critics have pointed to the thinly traded venue as a source of misleading price signals.
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