Key Highlights

  • Micron (NASDAQ:MU), the US memory chipmaker, traded about 2% to 4% higher pre-market on Wednesday, October 28, 2026 after SK hynix reported third quarter operating profit of KRW 83.3338 trillion, up 632% year on year.
  • SK hynix reported revenue of KRW 104.6155 trillion, up 328% year on year and the first quarter above KRW 100 trillion, while its US traded line, ticker SKHY, rose about 8% in a morning snapshot, lifting SanDisk (NASDAQ:SNDK).
  • The company said demand is expected to exceed supply through 2030, with long-term agreements covering more than 50% of 2027 to 2028 production capacity with 14 major customers.
  • Operating profit was above the earlier consensus of KRW 76.964 trillion on a simple comparison, but pre-market prices are thinly traded and can change before the open at 9:30 a.m. ET.

The Read-Across From SK hynix to Micron

Micron (NASDAQ:MU), a US maker of DRAM and NAND memory chips, traded about 2% to 4% higher in pre-market trading on Wednesday, October 28, 2026, a range reflecting two differing snapshots. The driver was the third quarter result of SK hynix, a South Korean memory supplier, in its preliminary release of Wednesday, October 28, 2026. Revenue was KRW 104.6155 trillion, up 328% year on year, and operating profit was KRW 83.3338 trillion, up 632%. A read-across means investors infer a peer's conditions from a competitor's results. SK hynix's US traded line rose about 8% and its Korean shares about 10% in morning snapshots.

Why the Pricing and Share Data Support the Read-Across

The mechanism links SK hynix's profit to memory pricing and to high bandwidth memory, or HBM, the stacked memory used with AI accelerators. The company stated that HBM4 shipments began in earnest and that HBM4 is expected to surpass HBM3E in volume and revenue in the fourth quarter. A Korean report of Monday, October 19, 2026 cited Counterpoint estimates of second quarter HBM revenue shares of 50% for SK hynix, 33% for Samsung and 18% for Micron (NASDAQ:MU). It also cited Meritz estimates of third quarter price rises of 22% for DRAM and 15% for NAND. Micron has a smaller HBM share, so the read-across is stronger for pricing than for volume.

Risks and What to Watch

The bull reading is that record SK hynix profit, with an operating margin of 80%, confirms pricing strength that peers such as Micron (NASDAQ:MU) can share. The bear reading is that expectations were already high and that a larger share of HBM sits with SK hynix. Named risks include a weaker won, which the annual report sized at about KRW 1.21 trillion of pre-tax cost for each 10% fall, and a reversal in contract pricing. The company also said Yongin Phase 1 investment is expected to rise significantly. Investors should watch the open at 9:30 a.m. ET on Wednesday, October 28, 2026 and the Federal Reserve decision due later that day.

Where Things Stand

The answer is that the SK hynix result can lift Micron (NASDAQ:MU) and memory peers through pricing, as operating profit rose 632% to KRW 83.3338 trillion and Micron traded about 2% to 4% higher pre-market. The company also set a FY2026 shareholder return plan of about KRW 100 trillion. The next catalysts are the open at 9:30 a.m. ET and the Federal Reserve decision due later on Wednesday, October 28, 2026. Pre-market prices are snapshots and can change, and this is not investment advice.