SK Hynix Tumbles 43% While DRAM Prices Rise; Big Tech Earnings Key This Month

According to Hana Securities analyst research on July 20, SK Hynix stock has fallen 43% to 2022 crisis levels, despite resilient underlying market fundamentals. DRAM spot prices rose 2% week-over-week and 7% month-over-month, while DRAM-focused ETFs saw inflows of $4.5 billion since July and $2.4 billion in the past five trading days.

Analysts view the stock decline as overdone relative to actual market conditions. They expect U.S. hyperscaler earnings announcements later this month to be a major catalyst for semiconductor stock recovery, with capital expenditure from Alphabet, Microsoft, Meta, and Amazon forecast to increase 80%-92% through Q3 2026, potentially supporting sustained memory chip operating margins.