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    SK hynix (KOSE:A000660) Joined The Nasdaq Composite, Does The Pullback Make It Cheap?

    Simply Wall St·07/18/2026 22:24:15
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    SK hynix added to Nasdaq Composite after large US equity raise

    SK hynix (KOSE:A000660) has just been added to the Nasdaq Composite Index, shortly after completing a new American Depositary Share listing and a US$26.5b follow on equity offering.

    This combination of index inclusion and fresh capital raises questions for investors about how SK hynix might balance growth ambitions in memory and AI related demand with potential dilution and valuation at the current share price.

    See our latest analysis for SK hynix.

    Despite the new Nasdaq listing and equity raise, SK hynix’s share price has recently pulled back, with a 1 day share price return of 11.53% down, a 7 day return of 15.50% down and a 30 day return of 31.40% down. Momentum over longer periods remains strong, including a 90 day share price return of 63.30% and a very large 1 year total shareholder return.

    If you are assessing SK hynix in the context of AI infrastructure demand, it can help to compare it with other chips and hardware exposed stocks by scanning 53 AI infrastructure stocks

    After a sharp pullback following its Nasdaq debut and sizeable equity raise, SK hynix appears cheap on several valuation checks. Does that recent reset still leave the balance of risk and reward leaning toward buyers, or not?

    Most Popular Narrative: 46% Undervalued

    Compared with the last close at ₩1,842,000, the most widely followed SK hynix narrative points to a fair value of ₩3,408,502, implying a sizeable valuation gap that hinges on aggressive growth and margin assumptions.

    Accelerating demand for high-performance memory solutions, particularly HBM and next-gen DRAM, as AI workloads and advanced reasoning models proliferate, is expected to sustain double-digit revenue growth and expand margin through premium pricing on leading products.

    Read the complete narrative.

    Want to understand why this narrative supports such a large uplift from today’s price? The entire case leans on rapid revenue expansion, elevated profitability, and a lower future earnings multiple than many peers. Curious how those pieces fit together into a single fair value number? The full narrative joins those assumptions into one detailed model.

    Result: Fair Value of ₩3,408,502 (UNDERVALUED)

    Have a read of the narrative in full and understand what's behind the forecasts.

    However, SK hynix’s fair value narrative still relies on tight memory supply and high bandwidth leadership, so any demand shock or technology delay could quickly challenge it.

    Find out about the key risks to this SK hynix narrative.

    Next Steps

    Given the mix of optimism and caution around SK hynix, it makes sense to scan the numbers yourself and decide where you stand. To weigh both the upside and the concerns side by side, start with the 4 key rewards and 2 important warning signs

    Looking for more investment ideas beyond SK hynix?

    If you stop at SK hynix, you could miss other opportunities that fit your style, so use the Simply Wall St screener to widen your field of ideas.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.