Atlas Research Note

SK hynix Q3 2026: Customers Are Buying Memory Years Out, and Our Model Lets the Shortage Ease Too Early

Ben Bajarin · October 28, 2026

Creative Strategies earnings read | October 28, 2026 | SK hynix third-quarter 2026 results and conference call, October 28, 2026 SK hynix reported its first quarter above KRW 100 trillion of revenue at an 80% operating margin, said long-term agreements with 14 customers cover more than half of its 2027 and 2028 capacity, and described DRAM and HBM as effectively sold out through 2029 with supply short of demand through 2030. Operating view: SK hynix posted a record quarter, but the more important disclosure was about contracts. SK hynix now has long-term agreements with 14 customers, including the major cloud providers, covering more than 50% of its total capacity in 2027 and 2028, with price bands and deposits attached, and management said the agreements plus volumes already under discussion leave DRAM and HBM effectively sold out for the next three years.

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Notes

SK hynix Q3 2026: Customers Are Buying Memory Years Out, and Our Model Lets the Shortage Ease Too Early

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