SK Hynix Inc. may follow up its new mega stock buyback with additional shareholder returns worth at least $130 billion through next year, according to JPMorgan Chase & Co. The key takeaway from the 40 trillion won ($29 billion) share repurchase announced Wednesday was the South Korean memory chipmaker's decision to lift the ceiling on returns, analyst Jay Kwon wrote in a note.

SK Hynix Inc. is now pledging more than half of its cumulative free cash flow over 2025 to 2027, versus "up to 50%" previously. This marks a significant increase in the company's commitment to returning capital to shareholders.

The announcement signals confidence in the memory chip market outlook and the company's ability to generate substantial free cash flow. Investors will watch closely to see if the additional returns materialize as projected by JPMorgan.