SK하이닉스, 6% 급등, 등급 하향에도 잠시 130만원 돌파 - kmjournal.net

SK hynix stock jumped nearly 6% during intraday trading on Monday, briefly touching the ₩1.3 million mark, even as a major brokerage downgraded its rating. The move signals a clear shift in market sentiment, where broader semiconductor industry momentum is outweighing individual analyst reports. Market Momentum Beats Analyst Caution According to data from the Korea Exchange, SK hynix climbed sharply during the session, doubling from its level in the low ₩600,000 range at the end of last year. The pace of the rally has been fast, but investors do not seem overly concerned. Instead, the surge is being read as an early signal of a semiconductor cycle rebound. Earlier in the day, BNK Investment & Securities lowered its rating on SK hynix from Buy to Hold, while keeping its target price at ₩1.3 million. The firm noted that first-quarter earnings slightly beat expectations but fell short of the more aggressive outlook that had priced in over ₩40 trillion in operating profit. It also pointed to a slowdown in AI-related capital expenditure since March, raising concerns about weaker momentum in the second half of the year. Despite this, the stock moved higher. That disconnect highlights a key trend. Investors are looking past near-term earnings and focusing more on the bigger picture, particularly the recovery in global semiconductor demand and sustained investment in AI infrastructure. Intel Earnings Spark Global Chip Rally The immediate trigger for the rally came from Intel. The U.S. chipmaker recently reported quarterly revenue of $13.58 billion, beating market expectations by a wide margin. The results lifted confidence across the sector, sending the Philadelphia Semiconductor Index up more than 4%. That momentum quickly spilled over into Asian markets. In Korea, both SK hynix and Samsung Electronics moved higher, reflecting renewed optimism across the semiconductor space. The market reaction suggests that global demand signals are currently more influential than company-specific performance. Rising Market Cap Signals Industry Shift As the stock climbed, SK hynix’s market capitalization also expanded, pushing it to 17th place globally. This marks its first entry into the top tier of global companies by market value. The broader implication is hard to ignore. Memory chip makers, once seen as cyclical laggards, are moving back to the center of the market narrative. With AI data center demand holding steady, high-bandwidth memory products are emerging as a key driver of profitability. For now, the market is making a clear bet. The semiconductor cycle may be turning, and investors are positioning ahead of it. by investment analystㅣ[email protected]