WSJ Tech News Briefing · Wednesday, July 29, 2026
Memory chip maker SK Hynix reported a record quarterly net profit of approximately $64 billion, a thirteenfold increase year-over-year. Despite this record performance, the company's stock fell nearly 10% as the results fell short of some investor expectations and raised concerns about the longevity of the AI boom.
“SK Hynix reported a record quarterly net profit today, and its stock fell nearly 10%.”
“In just three months, the memory chip maker earned a net profit of about $64 billion.”
“That's 13 times what they earned a year ago, and more than the company's combined net profit for the past five years.”