SK Hynix Soars 13% in Nasdaq Debut After Record $26.5 Billion IPO

SanDisk shares rose about 15% after its 2026 Investor Day, where management targeted non-GAAP gross margins around 80% sustained through fiscal 2030 and non-GAAP operating margins near 75%, supported by New Business Model agreements with eight customers covering about two-thirds of bits shipped by FY2028. Western Digital, SK hynix, and Micron also gained. Wall Street expects normalized earnings of about $213.23, $265.12, and $214.10 over the next three years.

AI infrastructure stocks rose Wednesday after strong earnings from Supermicro (SMCI) and AI cloud providers CoreWeave (CRWV) and Nebius (NBIS). Supermicro’s Q4 beat and forecast lifted shares over 6%. Nebius revenue topped expectations, while CoreWeave’s results showed accelerating demand and a surging backlog. Lumentum (LITE) revenue more than doubled to $1.01B, lifting peers and memory/storage ETFs.

Sandisk shares rose about 7% to $1,630, with Western Digital up 4% to $505 and Micron up 3% to $978, extending Thursday gains. The article cites analyst price-target resets and a $14 billion buyback authorization at Sandisk, plus new multiyear customer agreements worth $93.9 billion. It links the move to Korea’s Kospi returning to bull-market territory.

KOSPI closed Friday up 2.41% at 6,977.34, ending a seven-week losing streak and adding 11.5% for the week. SK Hynix rose 3.26% to 1,645,000 won and Samsung Electronics gained 2.43% to 274,500 won. The move followed SanDisk’s Investor Day guidance for mid-to-high teens revenue growth and ~80% non-GAAP gross margins through 2030.

SK Hynix and SanDisk rose about 8% as Temasek said it plans direct investments in Samsung Electronics and SK Hynix, and Micron’s CBO warned 2027 supply will be even tighter. Micron gained about 6% and Western Digital about 4%. The article cites strong year over year revenue growth for Micron and notes memory stocks trade in the high-teens to low-20s P/E.

SK Hynix ADRs on Nasdaq (SKHY) rose 2.59% to $138.79 by 11:58 a.m. ET, extending a rebound after a late-July selloff. The company said it advanced next-gen DRAM using High-NA EUV upgrades and new materials, and began mass production of HBM4, with ramp planned for 2H 2026. It also guided Q3 DRAM shipments +~10% QoQ.