CNBC Daily Open: Renewed fire from Iran, a big quarter for SK Hynix and a quake in Japan

Hello, this is Anniek Bao writing to you from Singapore. Welcome to another edition of CNBC's Daily Open.

A few nerves got tested overnight.

Iran launched a surprise missile attack on U.S. forces in the Middle East — and though the salvo was intercepted, it's forcing traders to reprice the odds that hostilities linger.

The second is the AI trade's arithmetic. SK Hynix delivered a record quarter but missed loftier expectations, underscoring how high the bar now sits.

On top of that, a 7.1-magnitude quake rattled one of Asia's chip hubs, leaving at least two dead in its aftermath.

Islamic Revolutionary Guard Corps forces launched multiple ballistic missiles from Iran in an attempted surprise attack on U.S. forces based in the Middle East, reigniting tensions that had been put on a brief pause.

U.S. Centcom said in a post on X that it identified the attack to be from Iran, and all missiles were intercepted. While the U.S. military command did not specify the target, Axios reported they were directed at a U.S. base in Jordan, citing U.S. officials.

The strike comes after a two-day pause in hostilities between Washington and Tehran, which had sent oil prices lower.

The renewed attack pushed U.S. West Texas Intermediate futures up 3.7% to around $82.2 a barrel, clawing back some of the previous day's drop. Brent fell 4.8% to close at $84.09.

Wall Street equities took it more calmly. S&P 500 futures were marginally higher, and Nasdaq 100 futures traded near the flat line. Dow Jones Industrial Average futures shed 38 points, or about 0.1%.

SK Hynix posted another record quarter — operating profit soared nearly 557% year on year, and revenue jumped 257% — but both data points missed analysts' estimates. Revenue was 79.32 trillion won versus 84 trillion expected, per LSEG SmartEstimates.

A sixfold profit surge that disappoints? That's where AI expectations now sit. The results still underscore robust AI demand and cement SK Hynix's leadership in HBM — the market just wanted more.

Its Seoul-listed shares soared as much as 4.5% Wednesday morning, according to LSEG data.

Apple briefly hit a $5 trillion market cap for the first time on Tuesday, a day after passing Nvidia to become the world's most valuable public company. Shares are up 25% this year and closed at $340.08 — just under the threshold.

While the hyperscalers pour hundreds of billions into AI capex, Apple has kept spending low. And investors, wary of aggressive spenders piling on debt, are rewarding exactly that.

SpaceX and Tesla have erased a cumulative $1.5 trillion in market cap since mid-June — SpaceX down almost 50% from its high, Tesla off 18% since earnings.

Next week could be wilder. Options imply a 15% swing around SpaceX's earnings on Tuesday, and the lockup ends two days later — putting more than 900 million shares, or 20% of eligible locked-up stock, on the table.

A 7.1-magnitude quake in Kumamoto killed at least two people after an explosion tore through a shopping mall and another in a building collapse.

TSMC, Sony and Fujifilm evacuated workers on Tuesday. TSMC said that its site was unaffected and operations were gradually resuming. "Post-earthquake structural ‌inspections ⁠have been completed, confirming that the structures are safe and operations are gradually resuming. Detailed inspections ​and impact ​assessments ⁠are ongoing." 

Tokyo Electron suspended two Kumamoto factories through Wednesday and Honda idled its motorcycle plant.

— Anniek Bao