SK Hynix Wins Goldman Backing as US NAND Plant and Labor Deal Take Shape
Published on 09/24/2026 at 15:40 | Editorial boerse-global.de
Goldman Sachs has reaffirmed its buy rating on SK Hynix, setting a twelve-month price target of 3,500,000 KRW following a virtual meeting with the South Korean memory maker's management. The vote of confidence rests largely on multi-year supply contracts that lock in demand and pricing, giving the chipmaker unusually clear visibility into its future earnings.
That visibility underpins an ambitious earnings trajectory in Goldman's models. The investment bank projects earnings per share of 399,504 KRW for fiscal 2026, rising to 491,918 KRW in 2027 and reaching 560,997 KRW by 2028 — a multi-year climb that reflects what analysts describe as a structural shift in the global semiconductor industry.
High-performance memory chips have become indispensable components for modern data centers and AI servers, and market watchers increasingly believe the current industry upcycle will outlast previous ones. JPMorgan shares that view. The US bank initiated coverage on September 10 with an overweight rating and a $245 price target, forecasting average annual earnings growth of 34% over the next two years and pointing to an upswing lasting more than five years. Investors in the US market have already responded, betting on persistent memory chip shortages and robust demand for AI hardware through 2027.
Not everyone is equally bullish in the near term. Concerns have surfaced about a temporary slowdown in demand for standard memory products and expanding production capacity across the industry. On September 15, one research firm trimmed its operating profit forecast for the fourth quarter by 4%.
Should investors sell immediately? Or is it worth buying SK Hynix?
Solidigm Eyes Upstate New York
Beyond the earnings debate, SK Hynix is pressing ahead with a US expansion that could reshape its North American footprint. According to a Reuters report dated September 18, subsidiary Solidigm is considering building a NAND flash memory plant in the United States, with Upstate New York emerging as the leading candidate for the large-scale project.
The deliberations fit into a broader American push. Roughly a week earlier, talks between SK Hynix and Intel over cooperation in memory chip manufacturing came to light, and the stock has since gained 5.9%. Media reports indicate the two companies discussed leasing portions of Intel's semiconductor site in Ohio, as well as forming a joint venture involving major cloud computing companies.
Alongside production considerations, SK Hynix is deepening its presence in technology hubs. In Silicon Valley, the company launched SK Hynix Ventures, a corporate venture capital brand aimed at broadening investments across the global artificial intelligence ecosystem. The chipmaker also took part in the AI Infra Summit in Santa Clara, California.
SK Hynix at a turning point? This analysis reveals what investors need to know now.
Labor Agreement Clears the Decks
At home, management has resolved an internal dispute that had hung over operations. Bloomberg reported that on September 16, 57% of union representatives approved a revised collective agreement. The new terms chiefly affect performance bonus payouts, which will now be split evenly — 50% in cash and 50% in company shares — replacing the previous 40% cash and 60% stock arrangement.
Shareholders welcomed the overall picture at the domestic exchange. On Wednesday, the stock added 1.2% to close at 1,862,000.00 KRW. With a gain of 187% since the start of the year, SK Hynix remains one of the strongest performers in the semiconductor sector.
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