SK Hynix climbed above 1.32 million won in intraday trading, setting another record high as expectations for stronger demand tied to artificial intelligence chips continued to lift the stock.
According to the Korea Exchange, SK Hynix was trading at 1,325,000 won as of 10:27 a.m. on April 28, up 33,000 won, or 2.55%, from the previous session. The shares pushed past the 1.32 million-won level during the session, marking a fresh all-time high.
Analysts cite rising expectations for higher demand for high-bandwidth memory, or HBM, driven by increased investment in AI servers. With global big tech companies led by Nvidia continuing to expand AI infrastructure spending, investors have been pricing in potential gains for SK Hynix in the HBM market.
A recovery in the memory market has also supported sentiment, with rebounds in DRAM and NAND prices and a growing share of higher value-added products fueling expectations for improved results.
Still, some warn the sharp run-up may be stretching valuations. BNK Investment & Securities on the previous day cut its rating on SK Hynix to “hold” from “buy” while keeping its target price at 1.3 million won, citing valuation pressure after the recent surge and the possibility that earnings momentum could slow in the second half.
* This article has been translated by AI.
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