SK Hynix reached a new all-time high, surpassing 2.6 million won in early trading on June 18.
According to the Korea Exchange, as of 9:49 a.m., SK Hynix shares were trading at 2,636,000 won, up from the previous trading day. The stock opened at 2,510,000 won and peaked at 2,642,000 won during the session, setting a new record.
The surge in stock price is attributed to the announcement of next-generation high-bandwidth memory (HBM) products. SK Hynix revealed that it has begun supplying samples of its seventh-generation AI memory, HBM4E, to key clients.
"We were able to present the HBM4E 12-layer samples to our customers based on the HBM development capabilities and production know-how we have accumulated over time," SK Hynix stated. "We will work closely with our key clients to ensure timely mass production."
The company had also set a record closing price the previous day, driven by expectations of increased demand for AI semiconductors and anticipation surrounding its American Depositary Receipt (ADR) listing.
Analysts have been raising their target prices for SK Hynix shares. Eugene Investment & Securities upgraded its target price to 3.7 million won, citing positive evaluations of the ADR listing and expectations for increased dividends. DB Investment & Securities also raised its target price to 3.1 million won.
Meanwhile, expectations for increased shareholder returns have led to buying interest in SK Square, the largest shareholder of SK Hynix. At the same time, SK Square shares were trading at 1,638,000 won, up 42,000 won (2.63%) from the previous trading day, after starting at 1,596,000 won and extending their gains during the session.
* This article has been translated by AI.
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