Key Highlights

  • SK hynix (NASDAQ:SKHY) reports on Wednesday, October 28, 2026 in Korea, with consensus of USD 5.97 to USD 6.25 per share and Korean operating profit consensus of KRW 76.96 trillion, an implied margin of about 78.4%.
  • Seagate (NASDAQ:STX) reports after the close on Tuesday, October 27, 2026, with a call at 5:00 p.m. ET and consensus of USD 7.40 per share, USD 0.10 above the USD 7.30 midpoint of its guidance, which was plus or minus USD 0.20.
  • ASM International (OTC:ASMXF) is scheduled to report on Tuesday, October 27, 2026, with consensus of USD 6.26 per share and third-quarter revenue guided to about EUR 1.1 billion.
  • Memory, storage and deposition tools share one driver, artificial intelligence capital spending, so pricing, capacity and order intake across the three set the read on the cycle.

SK hynix (NASDAQ:SKHY): the bar for a record quarter

SK hynix (NASDAQ:SKHY), the Korean maker of DRAM, NAND flash and high-bandwidth memory (HBM), stacked chips used beside artificial intelligence processors, is due to report third-quarter results on Wednesday, October 28, 2026, in Korea. Market data show consensus earnings of USD 5.97 to USD 6.25 per share on revenue near USD 66.4 billion, while Korean consensus is revenue of KRW 98.23 trillion and operating profit of KRW 76.96 trillion. Brokerage operating profit estimates run from KRW 70.1 trillion at DS Investment & Securities to KRW 80.1 trillion at Meritz. The company beat consensus on Wednesday, July 29, 2026, and the shares have risen about 36% since. Results cannot be known in advance.

The profit bar rests on price more than volume. Industry data put second-quarter DRAM average selling prices up about 30% and NAND prices up in the mid-50% range, so a margin near 78% assumes those gains held. The second driver is HBM4, the newest generation of stacked memory: sales for the Nvidia (NASDAQ:NVDA) Vera Rubin platform are expected to begin appearing, yet shipments may have missed expectations for a second straight quarter because of platform delays.

The bull case is operating profit at or above KRW 79 trillion, a firm fourth-quarter pricing outlook and clear HBM4 volume, which could lift the shares. The bear case is profit near the KRW 70.1 trillion low end, a softer price outlook or a further shipment slip, which could prompt a sharp fall even from record profit after a 36% advance. Solidigm, the group's United States storage subsidiary, remains a separate item, as its planned listing has been shelved. Investors should watch capital spending plans and long-term supply agreements.

Seagate (NASDAQ:STX): consensus above the guidance midpoint

Seagate (NASDAQ:STX), which makes hard disk drives for data centres, reports results for the quarter ended Friday, October 2, 2026 after the market close on Tuesday, October 27, 2026, so the first full trading reaction falls on Wednesday, October 28. Consensus earnings of USD 7.40 per share sit USD 0.10 above the USD 7.30 midpoint of the guidance given on Tuesday, July 28, 2026. Guided revenue is USD 4.1 billion, plus or minus USD 100 million, after fiscal fourth quarter revenue of USD 3.63 billion.

Hard disk makers earn high margins when supply is tight, because cloud operators commit to capacity ahead of delivery. Seagate reported a GAAP gross margin of 52.3% in the fiscal fourth quarter and free cash flow of USD 1.1 billion. On Monday, October 26, 2026 it said its Mozaic drives, which pair heat-assisted recording with shingled recording to lift the data stored on each platter, joined a Broadcom approved list and completed Microsoft Azure qualification.

A result that only meets USD 7.40 is the main risk, since the bar already exceeds the company midpoint. Revenue at or above USD 4.2 billion, earnings above USD 7.50 and a guide for the December quarter that lifts the gross margin from 52.3% would confirm pricing power, and the shares could extend gains. Cautious commentary on demand from large cloud buyers, or any slip in the pace of higher capacity drives, would weigh on the stock.

ASM International (OTC:ASMXF): orders and China against a demanding guide

ASM International (OTC:ASMXF), a Dutch supplier of atomic layer deposition equipment, which builds ultra-thin films on silicon wafers, is scheduled to report third-quarter 2026 results on Tuesday, October 27, 2026, with the release timed for the European market. Consensus earnings are USD 6.26 per share in market data. In July the company recorded second-quarter revenue of about EUR 1.0 billion against guidance of EUR 980 million and guided the third quarter to about EUR 1.1 billion. Results cannot be known in advance, and the over-the-counter line trades far less than the Amsterdam listing.

Management called chip nodes at 2 nanometres the largest driver of logic demand, because gate-all-around transistors need more deposition steps per wafer. It expects second-half revenue more than 20% above the first half at constant currency, with full-year gross margin near 51%. China is the offset, as mature logic and foundry demand is expected to fall in the second half. The shares fell about 2.7% after the July results, according to market data.

The bull case is revenue at or above EUR 1.1 billion, orders that confirm record memory demand and a fourth-quarter outlook consistent with growth of more than 20% in the second half, which would likely support the shares. The bear case is revenue below EUR 1.1 billion, a gross margin below 51% or a faster fall in Chinese orders, which could prompt a sharp decline in a stock priced for the leading edge of the cycle. Investors should also watch order intake and the euro and dollar rate, and the response to Teradyne (NASDAQ:TER), which reports the same day.

Where Things Stand

The answer is that the three read the same cycle from different points, and each faces a bar set by its own guidance. SK hynix (NASDAQ:SKHY) needs a record quarter and HBM4 volume to justify a margin near 78%. Seagate (NASDAQ:STX) must beat a USD 7.40 consensus that already exceeds its USD 7.30 midpoint. ASM International (OTC:ASMXF) is likely to be judged on orders and the fourth-quarter outlook more than on USD 6.26. Pricing power in memory and storage and the pace of tool orders will decide whether AI spending still outruns supply.

The next catalysts are the Seagate and ASM International releases on Tuesday, October 27, 2026, the SK hynix report on Wednesday, October 28, 2026 and the Federal Reserve decision the same day. Consensus figures and guidance are estimates, not guarantees, and this is not investment advice.