SK hynix (SKHY) fell 9% after Qualcomm (QCOM) reported handset chip sales down 26% to $5.14 billion in the quarter ended Sept. 27. Qualcomm said chip costs, memory included, are rising and it is raising its own prices to match, and it expects a flat handset market in 2027. Higher memory prices lifted SK hynix's gross margin from 57.4% in the quarter to September 2025 to 85.7% a year later, mainly on conventional DRAM used in phones and PCs. Apple reported a record September-quarter iPhone result, but its inventories more than doubled to $14.5 billion, which the author reads as stocking up before memory prices rose further. SK hynix trades at 2.9x forward earnings, and contracts with 14 customers cover over half of its planned 2027-2028 capacity, though most prices are still set monthly or quarterly.
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QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/04/2026 | 691.95 |
| Change that session | +0.97% |
AAPL
• NeutralApple Inc.
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Technology Hardware, Storage & Peripherals |
| Market cap | $5.1T |
| Close on 11/04/2026 | 349.62 |
| Change that session | +5.34% |
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