Expected SK Hynix results (in USD) - do your own projections with price data etc. And then show analyst expectation separately

NAND blended ASP (~$1B) and DRAM bits (~$0.9B) explain most of our ~$2B 3Q26E operating-profit shortfall versus consensus.

Our operating profit is ~$2B below consensus in 3Q26E and ~$3B above in 4Q26E.

Our operating profit is ~$11B above consensus in 2027E and ~$0.7B above in 2028E despite ~$22B lower revenue.

Our implied operating margin is ~70% in 2028E versus ~67% consensus, after ~77% versus ~76% in 2026E-2027E.

DRAM ASP growth has slowed to ~11% QoQ from ~56%, while DRAM bit growth has risen to ~14% from ~8%.

Revenue has risen from ~53B to ~68B, with DRAM bits adding ~6B and DRAM ASP adding ~4B.

Operating profit has increased from ~40B to ~53B, as DRAM price/bit added ~7B and cost & yield added ~2B.

Own estimates sit ~2B below consensus on revenue (~68B vs ~70B) and operating profit (~53B vs ~55B).

A ~5% DRAM ASP move shifts operating profit by ~3B; a ~3% DRAM bits move shifts it by ~1B.

Consensus 3Q26E revenue is ~$70B versus own ~$68B, with NAND ASP the largest bridge item at ~$1B.

Consensus 3Q26E operating profit is ~$55B versus own ~$53B, with NAND ASP the largest driver at ~$1B.

Memory contract-price growth has slowed from ~83% total DRAM and ~88% NAND in 1Q26 to ~11% and ~21% in 3Q26F.

Micron revenue rose to ~$54B in FQ4-26A and non-GAAP operating income to ~$45B, with FQ1-27E guided at ~$62B and ~$51B.

Micron's FQ4-26 DRAM ASP rose ~19% and NAND ASP ~30%, above own 3Q26E assumptions of ~11% and ~21%.

Re-scoring lifts SK Hynix 3Q26E revenue to ~$9B from ~$8B, with DRAM ASP adding ~$4B and DRAM bits ~$5B.

Re-scoring lifts SK Hynix 3Q26E operating profit to ~$8B from ~$7B, with DRAM ASP and bits adding ~$4B each.

Micron's FQ4-26 operating margin is ~82%, versus ~76% for SK Hynix 2Q26A and ~78% for both 3Q26E own and consensus.

Micron FQ4-26 revenue grew ~31% QoQ, versus SK Hynix own ~28% and consensus ~32%; FQ1-27E growth is guided at ~13%.

TrendForce's 3Q26 DRAM ASP survey midpoint of ~11% undershot Micron's realized ~19%, so the survey lagged rather than misread direction.

Micron's read lifted 3Q26E operating profit from ~$53B to ~$54B, with DRAM ASP adding ~$4B and DRAM bits subtracting ~$4B.

Re-scoring lifted SK Hynix 3Q26E operating profit to ~$54B, near consensus ~$55B, while revenue stays ~$1B below consensus at ~$69B.

Consensus revenue is ~$70B and operating profit ~$55B, above the ~$68B/~$53B original and ~$69B/~$54B Micron read.

Consensus revenue is ~₩94T and operating profit ~₩74T, above the ~₩92T/~₩71T original and close to the ~₩93T/~₩74T Micron read.

FnGuide revenue consensus is ~98T, ~5T above own re-score of ~93T and ~6T above original ~92T.

FX adds ~3T of the ~5T revenue difference, lifting own re-score from ~93T to consensus ~98T.

FnGuide operating profit consensus is ~77T, ~3T above own re-score of ~74T and ~6T above original ~71T.

NAND ASP adds ~1T and DRAM ASP ~2T, moving own operating profit re-score from ~74T to consensus ~77T.

Own re-score operating margin is ~79%, ~1% above consensus ~78% and ~3% above 2Q26 actual ~77%.

Consensus EPS is ~86,000, ~4,000 above own re-score of ~83,000 and ~6,000 above original ~80,000.

Revenue and operating-profit shortfalls are ~1% and ~0.2% in USD and ~2% and ~0.8% at ~1,404.

At ~1,404, own revenue is ~96.5T and operating profit ~76.4T versus consensus ~98.2T and ~77.0T.

FX from ~1,355 to ~1,404 adds ~3.4T of the ~5.1T revenue shortfall; NAND and DRAM price/mix add ~0.9T and ~1.0T.

FX from ~1,355 to ~1,404 adds ~2.7T of the ~3.3T operating-profit shortfall; price/mix adds ~0.3T.

USD/KRW monthly averages have fallen from ~1,475 in Jul-2026 to ~1,339 in Oct-2026; the 3Q26 average is ~1,404.

A ~1,404 average restates own revenue to ~96.5T, while spot ~1,326 would cut it by ~7.1T to ~89.4T.

Consensus 3Q26E EPS averages ~KRW 86,000, above own ~KRW 80,000-83,000 at ~1,355 and within a ~KRW 76,000-94,000 range.