SK Hynix Sees Memory Demand Outpacing Supply Through 2030 After $78.9B Quarter

SK Hynix Sees Demand Outpacing Supply

The SK Hynix quarterly report set the tone for Wednesday's session: record third-quarter revenue of 104.6 trillion won ($78.9 billion), up 328% year over year, with operating profit jumping 632% to 83.3 trillion won and coming in ahead of consensus. Management told investors it expects memory demand to outpace supply through 2030, adding that more than half of its 2027 and 2028 production capacity is already committed under long-term agreements. Contracts of that kind typically fix volumes for buyers years in advance, which keeps committed output off the open market even as new capacity comes online, and the forecast pushes back on recent fears that the memory cycle could top out in 2028.

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Micron (MU) trades at $966.39 on Thursday, up 0.48% over the past 24 hours, and COINOTAG's composite scoring places its strongest support at $951.65, rated 100/100 from a stack of the 100-day EMA, the 0.382 Fibonacci level and the Ichimoku Kijun. SanDisk (SNDK) changes hands at $1,381.39, up 1.87%, with the heaviest resistance overhead at $1,428.52, scored 93/100. Open interest in Micron stock perpetuals stands at $157.3 million, against $299.1 million for SanDisk. Both daily trend readings are sideways and both MACD signals are bullish; a sustained break of either level would reset the near-term setup.

SanDisk Earnings Set the Next Move

SanDisk spent several weeks trending lower through the broader chip selloff before finding a floor at the 0.618 Fibonacci retracement near $1,244.58, a level that coincided with a demand zone which also held in May and early August. Wednesday's rebound aims at the 0.5 retracement around $1,456; a move above it would open a retest of the 0.382 level at $1,668, where sellers have repeatedly stepped in. Trading volume is contracting, which points to a compression phase, and the relative strength index has recovered into neutral territory near 45. A daily close back below $1,244 would break the setup and expose the 0.786 retracement close to $943.

The earnings report due after Thursday's close will likely decide which path wins. The market looks for roughly $10.64 billion in revenue and earnings per share near $46, and options pricing implies a move of about 9.9% in either direction. Micron Technology's own structure looks firmer: the stock briefly lost the 0.382 retracement at $894.58 before reclaiming it with Wednesday's gain, printed its first lower low since July after a higher high on October 2, and drew down roughly 32% from its June peak against about 48% for SanDisk. A push above $1,000 and the 0.236 Fibonacci level at $1,032 would confirm the recovery, while losing $894 again could open a path toward the 0.5 level near $783. Because Micron tends to track its memory peers closely, SanDisk's results could set the tone for both stocks.