Memory Stocks Slide in Seoul Ahead of Micron’s Fiscal Q4 Results
Samsung Electronics and SK Hynix dropped more than 5% on September 28 as Korean markets reopened after Chuseok, with foreign investors selling KOSPI shares. Micron is scheduled to report fiscal fourth-quarter results on September 30, and management has guided to record revenue. Micron has said calendar 2027 memory supply could be tighter than 2026, while consensus estimates show earnings peaking in fiscal 2028.
Seoul's memory shares weakened as trading resumed after Chuseok. Samsung lost 5.43% and SK Hynix 5.05%, while overseas investors sold a net 3.24 trillion won of KOSPI equities. Reports attributed the move partly to delayed global market reactions and speculation about a U.S. listing for SK Hynix's Solidigm unit. Micron ended Sept. 25 at $1,082.28, up 0.16%.
Micron's fiscal Q4 guidance calls for about $50 billion revenue, $31 non-GAAP EPS, and roughly 86% gross margin. Management has described calendar 2027 supply as tighter than 2026, with HBM4E consuming more standard DRAM capacity. Consensus forecasts peak GAAP EPS near $188 in fiscal 2028, then decline, though long-range analyst coverage is sparse.
Micron's results and Seoul's memory selloff could shape sentiment for investors, pension funds, and savers exposed to semiconductor equities. If tight memory supply persists, device makers and consumers may face higher component costs, while chipmakers and equipment suppliers could benefit. Labor tensions at Micron's Taiwan operations may also affect workers and local supply chains. The outcome may influence how markets price memory demand, but it does not by itself determine broader economic conditions.