SK Hynix Is the Overlooked Memory Chip Maker

The memory chip market right now is governed by a triumvirate of companies, led by South Korean firm SK Hynix, followed by Samsung, also of South Korea, and U.S. chipmaker Micron. The three stocks soared more than 200% over the last year—and yet they’re still cheap, especially relative to Nvidia’s stock.

Investors aren’t giving the companies credit for their stunning growth. SK Hynix and Micron each increased sales nearly 50% in 2025 and analysts expect the companies to grow sales 159% and 191%, respectively, in 2026, according to Koyfin, far more than the 71% growth Nvidia is expected to deliver in its next fiscal year, which ends in January. Samsung’s business is far more diversified, making its performance less indicative of growing memory demand.