SEOUL—One of the world’s biggest memory-chip makers reported a record $64 billion quarterly profit on Wednesday—and its stock price still fell nearly 10%. Welcome to the most fickle of stock markets, where earnings that would have been unthinkable a year or two ago are now treated as a disappointment. South Korea’s SK Hynix, which specializes in memory chips for electronics and artificial-intelligence systems, saw its market value surpass $1 trillion in late May on the South Korean stock exchange. On July 10, the firm made its U.S. trading debut on the Nasdaq, raising more than $26 billion. The good news…

Want to continue reading?

Join today with an Annual membership and unlock full access to The Currency and The Wall Street Journal for just €200 – two premium memberships, one subscription.

Subscribe

Cancel at any time.

Are you already a member? .