Forward Guidance · Monday, August 3, 2026
SK Hynix experienced an earnings miss, which is seen as the first significant downturn for the semiconductor sector in this cycle. The timing of this miss, coinciding with peak leverage in the system and market 'tape warfare', suggests a potential connection to the broader AI trade unwind.
“And there was the the fundamental story too, did also start to get into question, because SK Hynix had their earnings miss. Um, and it's the first meaningful miss of that whole complex.”
“Um, so there was, I don't know, I'm a fan of reflexivity, like I don't think it's a coincidence that the same time that you get the first SK Hynix miss is also when you get the max amount of leverage in the system.”
“And obviously, you did have that fundamental aspect of SK Hynix missing, and it makes sense to see it be beaten down, but I also don't think it's a coincidence that at the same time you had, uh, you had the sharks swirling in the waters to short these things and, you know, when a big player has a target on their back, the market's always going to test them.”