SK hynix says its AI memory capacity is already sold out, while Micron is locking buyers into multiyear contracts to absorb spillover supply. SK hynix posted Q2 revenue of KRW 79.32 trillion, up 256.8% year over year but below consensus of about KRW 84.12 trillion, with operating profit of KRW 60.54 trillion and a 48.6% operating margin. Micron's fiscal Q4 revenue reached $54.23 billion, beating the $50.97B consensus, and it has 26 strategic customer agreements, 10 of them signed this quarter. Micron guided fiscal Q1 revenue to $61.5B ± $1.5B. The author judges Micron to carry more downside exposure given its smaller HBM share and wider commodity memory business, while SK hynix's HBM position is stronger.
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