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SK Hynix stock falls 3% despite Wolfe Research raising its price target to $250.

Market News
23 Sep 2026
24/7 Wall Street
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Bearish
SK Hynix stock falls 3% despite Wolfe Research raising its price target to $250.

SK Hynix shares dropped 3% even after Wolfe Research increased its price target from $200 to $250, reflecting confidence in improving memory pricing and strong demand through 2028. The decline is part of a broader sell-off in memory and storage stocks, including SanDisk and Micron, suggesting sector-wide profit-taking rather than company-specific issues. Wolfe highlights potential for significant free cash flow and share buybacks fueled by AI-driven demand for high-bandwidth memory. Investors should expect volatility despite a positive long-term outlook, considering current elevated valuations and sector pressure.

Micron Technology leads in market capitalization among its peers on Pluang, valued at $1.24 trillion as of Sep 24, 2026 01:32 WIB, with a modest dividend yield of 0.05%. SK Hynix follows with a market cap of $952.29 billion and a trading volume of over 18 million shares, while SanDisk holds $276.30 billion in market cap. Despite the sector's recent sell-off, Pluang data shows SK Hynix's order activity leans 69% buy, indicating ongoing investor interest amid the 2.88% price drop on the day.

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