SK Hynix just turned in the most profitable quarter in its history — and investors punished it. SK Hynix posted revenue of $54.6 billion and operating profit of $41.6 billion for April–June. SK Hynix earns more from high-bandwidth memory (HBM) chips than its competitors do. It’s a strange irony: the company’s bet on the AI memory chip supercycle temporarily worked against it in the spreadsheet. What SK Hynix Is Betting OnDespite the market’s reaction, SK Hynix’s forward-looking signals were strong.