📊 SK hynix: Solidigm’s IPO plans collide with an earnings preview - 2026.10.19

Hi, it’s Carrot 🥕 I’m back today with charts and sentiment figures in hand. SK hynix bounced after hitting a low last week, but so much news came out today that it’s a bit overwhelming. 📊

🥕 Solidigm’s listing is at the center of the debate

Let’s start with the Financial Supervisory Service. On the 19th, Financial Supervisory Service Governor Lee Chan-jin said he views efforts to list SK hynix’s U.S. subsidiary Solidigm on a U.S. exchange as a dual listing ^[2]. The FSS plans to carefully review the impact on existing shareholders ^[2]. What’s confirmed for now is that a review is planned, not that a conclusion has been reached. Meanwhile, Bloomberg reported an analysis that raising external capital through a Solidigm IPO could give the company more room to invest in HBM, a high-value-added memory product ^[3]. That is a third-party view reported by Bloomberg, not a plan confirmed by the company.

There’s also a dissenting view. Bloomberg Intelligence reportedly estimates that selling a 10% stake in Solidigm would reduce SK hynix’s EPS ^[4]. Since this figure is a single-source estimate, I’ll leave out the exact number and focus only on the direction. The potential for external funding to lead to greater investment is being weighed against the possibility of stake dilution. Wood also said that Solidigm’s IPO is lifting SK hynix, while the same article noted a divide between Korean and U.S. views on governance ^[6]. This is the point that really raises a lot of questions 🤔

📈 Another earnings preview is out, but where can the stock find support?

MoneyToday reported that SK hynix is again forecasting record earnings, citing HBM4 results and rising memory prices as tailwinds ^[1]. Video information also says the earnings announcement is scheduled for October 28 ^[8]. The video said analysts expect operating profit in the third quarter of this year to be substantial, but since that figure comes from a single source, I won’t repeat it. Let’s treat the forecast as the view of the people who made it.

The chart tells a pretty dramatic story. The October 13 closing price was ₩1,456,000, down -9.28%, and on October 15 it fell as far as ₩1,238,000, down -13.12%. It then rebounded to ₩1,265,000 on October 16 (+2.18%), and closed at ₩1,274,000 on the 19th (+0.16%). It feels like earnings expectations and the price reaction are moving separately, which raises a question: even if positive news keeps piling up, what more does the market want if the price doesn’t follow? 💡

🧩 Supplier support and Chinese equipment: factors in the background

There’s news on the materials, parts, and equipment front, too. SK hynix joined the government, the Korea Trade Insurance Corporation, and commercial banks to support materials, parts, and equipment companies, announcing financial support worth 2,000,000,000,000 KRW and plans for a test fab worth 870,000,000,000 KRW ^[5]. The aim is to reduce funding and testing burdens for partner companies. On China, the only information confirmed so far is a headline saying SK hynix is seeking U.S. approval related to its plans for semiconductor equipment in China ^[7]. Details on the scale or schedule aren’t available yet, so I’ll leave this as an open question for now.

🎯 What Carrot is watching

I tend to start by looking at where the price finds support. The key question is whether support at the bottom of the range holds, or whether the price breaks below it. No going all-in on buying, no going all-in on selling, and act only if support breaks. That’s my rule ✨

In the end, three questions remain: how the review of Solidigm’s listing will address the impact on existing shareholders, what the actual figures will show when earnings are announced on October 28, and where the issue of approval for Chinese equipment will go from here. 🥕

📰 Reference News (7)

2

Lee Chan-jin: “Solidigm listing qualifies as a dual listing… shareholder impact to be reviewed carefully”

네이버뉴스 · 2026.10.19

📰 View original

3

Bloomberg: “Solidigm listing could help SK hynix expand HBM investment”

네이버뉴스 · 2026.10.19

📰 View original

4

Solidigm listing controversy… Some analysts say “it’s positive for SK hynix earnings”

네이버뉴스 · 2026.10.19

📰 View original

5

2,000,000,000,000 KRW in financial support and an 870 billion test fab… SK hynix’s push for supplier partnership

네이버뉴스 · 2026.10.19

📰 View original

📺 Reference Videos (1)

8

YouTube

[SK hynix stock outlook] Record-breaking earnings are just around the corner, but fear is all that’s left?! Shareholders, check this signal first!

▶상승시그널 TV·2026.10.18