SK hynix down 47% since July while DDR5 spot prices rose 31%: a striking disconnect
tengyanAI · x · 2026-10-27
Independent analyst Teng Yan's pre-earnings brief on SK hynix: since July 1 the stock has fallen 47% (as of Oct 27), while spot prices for 16Gb DDR5 rose 31% over the same period. Analysts barely cut estimates — Q3 revenue forecasts down 5%, Q4 down just 2%.
The read: the market is betting the memory boom won't last rather than pricing in a weak quarter. Rising memory prices, strong customer commitments and tight supply suggest otherwise. The author also owns up to a prior miss.
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