Why Is SK hynix Stock Up 17% Today? SKHY Tests $155 on AI Spending Rally

SK hynix ADRs surged about 17% to $149 on July 31 as Microsoft’s strong cloud results and continued AI infrastructure spending restored confidence in memory-chip demand. The rebound comes two days after SK hynix reported record Q2 revenue of ₩79.3 trillion and operating profit of ₩60.5 trillion, although both figures fell short of elevated analyst forecasts. 

SK hynix shares are rebounding sharply as investors return to AI and semiconductor stocks following Microsoft’s earnings-driven rally. The ADR reached as high as $155.25 before easing toward $149, leaving it close to a major technical breakout. Strong HBM demand, Samsung’s warning that memory shortages could persist through 2028, and Microsoft’s accelerating data-center investment have outweighed concerns about SK hynix’s earnings miss and rising capital expenditure.  

Microsoft Earnings Restore Confidence in AI Memory Demand

The immediate catalyst for SK hynix’s rally was a broad recovery across Asian technology stocks after Microsoft reported strong Azure growth and demonstrated that AI spending is producing measurable cloud revenue.

South Korea’s Kospi jumped more than 16%, while SK hynix rose around 25% in local trading as investors reversed part of the semiconductor selloff seen earlier in the week. Microsoft’s results reduced fears that hyperscalers might slow data-center spending, an important development for SK hynix because HBM is used alongside AI accelerators in large computing clusters.  

Samsung provided another positive industry signal. The company warned that memory-chip supply could remain constrained through 2028, supporting expectations that DRAM, NAND and HBM pricing will stay firm. SK hynix ADRs had already gained 17.5% during the related U.S. memory-stock rebound.  

SK hynix Q2 Earnings Break Records but Miss High Expectations

SK hynix reported Q2 revenue of ₩79.3187 trillion, up 51% quarter over quarter and 257% year over year. Operating profit increased 557% to ₩60.5426 trillion, producing an operating margin of 76%. Net profit reached ₩93.9226 trillion, although that figure included significant investment-related gains. 

Despite the records, revenue and operating profit missed consensus expectations. Reuters attributed part of the shortfall to delayed HBM shipments and weaker-than-expected pricing improvement, which initially drove the shares sharply lower. (Reuters)

The underlying AI-memory outlook remains strong. SK hynix began mass shipments of HBM4 during the quarter, plans a larger second-half production ramp, and has secured multi-year supply agreements with around 10 major customers. The company also raised 2026 capital expenditure guidance toward the high ₩40 trillion range to expand advanced-memory capacity. (Reuters)

SK hynix Technical Analysis: $155 Resistance Defines the Next Move

SK hynix has rebounded from support near $118 and recovered several Fibonacci retracement levels. The latest rally reached an intraday high of $155.25, testing the 61.8% Fibonacci level at $155.16 and a descending trendline that has capped previous recoveries.

Momentum has strengthened, with RSI near 56, but the retreat toward $149 shows that sellers remain active around the breakout zone.

Resistance: $155.16, $165.17, $177.79
Support: $148.10, $140.96, $132.15

Trade Setup

Entry: Buy only after a daily close above $155.20
Target: $165.17, followed by $177.79
Stop: Below $148.10

A close above $155.20 would break the descending trendline and support a broader trend reversal. Failure to hold $148.10 could trigger profit-taking toward $140.96.

Frequently Asked Questions

Why is SK hynix stock rising today?

SK hynix is rising because Microsoft’s strong AI and cloud results revived confidence in data-center investment, while Samsung warned that memory supply could remain tight through 2028. 

Did SK hynix beat Q2 earnings expectations?

No. SK hynix reported record revenue and operating profit, but both figures missed analysts’ elevated forecasts, partly because of delayed HBM shipments.  

Can SKHY break above $155?

A sustained close above $155.20 would confirm a technical breakout and expose $165.17 and $177.79. Until then, $155 remains the key resistance zone.

ABOUT THE AUTHOR See More

Arslan Ali Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Ali Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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