SK Hynix Profit Soars 632% as KOSPI Rallies 6% on Chipmaker’s Earnings Boom

• SK Hynix earnings hit a quarterly record as revenue rose 327.9% year on year to 104.62 trillion won
• SK Hynix stock and the KOSPI rallied during morning trading on October 28 following the earnings report
• AI chip demand remains a key growth driver, while analyst price targets are estimates rather than guaranteed outcomes

SK Hynix has reported record quarterly earnings for Q3, as demand for AI chips continues to rise in the sector. The South Korean chipmaker’s revenue crossed 100 trillion won for the first time, which helped lift the KOSPI index. As AI chip demand continues to rise, what could be the next price target for SK Hynix stock?

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SK Hynix Revenue Jumps 327.9%

SK Hynix reported stellar revenue metrics, impacting the KOSPI index. The chipmaker’s revenue stood at 104.62 trillion won from July to September, rising 327.9% year on year. Revenue also increased 31.9% compared with the previous quarter, indicating significant growth and progress.

The company’s operating profit reached 83.33 trillion won, rising 632.1% year on year and 37.6% quarter on quarter. Such significant numbers showcase how SK Hynix has come a long way, banking on rising AI chip demand.

SKHY Stock and KOSPI Rally

The recently released earnings report gave investors a fresh perspective on South Korean chip stocks. This helped bring the KOSPI index into focus, improving prospects for SK Hynix stock. On October 28, the KOSPI index rose 5.8% to 5,965.13 during morning trading. At the same time, SK Hynix stock was up 7.76%, while Samsung Electronics gained 7.77%, according to the local Yonhap News Agency.

Moreover, the rise in SK Hynix stock was supported by the earnings report, alongside optimism around AI-related chip demand. The company recently announced a shareholder return program worth more than 100 trillion won for 2026. This plan includes returning value to shareholders through dividends and share repurchases.

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What Comes Next for SK Hynix

According to TipRanks, SK Hynix has a 12-month average price target of $254.70, with a low estimate of $200 and a high estimate of $320.

According to 11 Wall Street analysts, SK Hynix has an average 12-month price target of $254.70. Forecasts range from a low of $200 to a high of $320. Based on the current price of $145.36, the average target suggests a potential upside of 75.22%.

According to the MarketCapOf ROI tool, SK Hynix stock (000660) recorded a 2.38x increase between January 1 and October 28, 2026, outperforming NVIDIA (NVDA), which posted a 1.16x increase over the same period. The comparison highlights SK Hynix’s stronger stock performance amid rising AI chip demand and growing interest in advanced memory chips.

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