SK Hynix slips after record profit misses estimate
SKHY•Analysts remain mostly bullish
Most analysts remain bullish on SKHY, with 41 of 42 rating the stock a buy or strong buy and a median price target implying about 150% upside from its last close.
Broader memory stocks and South Korea market also weaken
Roundhill Memory ETF DRAM.K shed 1.3% after the SK Hynix results.
South Korea's $2 trillion stock selloff also hit a record after the results.
Shares fall after record quarterly profit misses estimates
U.S.-listed shares of SK Hynix Inc. SKHY.N fell 1.5% to $128.20 in premarket trading after the South Korean chipmaker on Wednesday reported record quarterly operating profit, yet missed analysts' expectations, raising concerns about AI spending.
The company said delays in shipments of some advanced products limited DRAM price gains.
