SK Hynix Rises 14% in Debut on Wall Street as Demand for Memory Chips Soars Amid AI Frenzy
Cramer said the stock trades at just over 7 times expected earnings and urged investors to buy only a small position because memory chips remain volatile.
- On Friday, South Korean chipmaker SK Hynix began trading on the Nasdaq through American Depositary Receipts, giving U.S. investors direct access to the world's largest maker of high-bandwidth memory chips.
- The roughly $26.5 billion offering ranks among the largest share sales ever, providing Icheon-based Hynix capital to build new factories and tap the world's largest pool of investors.
- CNBC's Jim Cramer noted Hynix trades at roughly 5.8 times forward earnings despite the AI boom, yet warned that "the big concern is that, historically, memory chips have been a boom and bust business."
- Cramer advised investors to "put on a small position and leave room to buy more into weakness," describing the stock as a "rollercoaster that can go down fast."
- Semiconductor stocks have lost momentum in recent weeks amid investor concerns about slower AI spending, with analysts warning that oversupply fears remain inherent to the industry despite strong earnings.
48 Articles
48 Articles
SK hynix surges on first day of trading on Wall Street
The Asian semiconductor giant's American depositary shares (ADSs) ended its first session at $168 after being priced at $149, with the listing on the tech-heavy Nasdaq index raising $26.5 billion. SK hynix, a major supplier of advanced memory chips to industry behemoth Nvidia, has seen profits skyrocket thanks to the global race to build artificial intelligence data centers. Tech stocks have tumbled in recent weeks on fears of overheated valuati…
SK Hynix rises nearly 13% in debut on Wall Street as demand for memory chips soars amid AI frenzy
Shares of South Korean memory chipmaker SK Hynix rose nearly 13% as they made their debut on Wall Street, at a time when demand for chips is surging thanks to the frenzy around artificial intelligence. SK Hynix priced its American…
Trillion-dollar South Korean chipmaker SK Hynix debuts on Nasdaq at $170 a share, signaling strong AI appetite among traders
SK Hynix, the South Korean chipmaker worth $1 trillion, opened Friday at $170 a share on the Nasdaq and quickly rose higher – signaling investors are still eager for access to the AI trade, even after weeks of wild swings in tech and chip stocks.
SK Hynix rises 13% in debut on Wall Street as demand for memory chips soars amid AI frenzy
Shares of South Korean memory chipmaker SK Hynix rose 13% as they made their debut on Wall Street, at a time when demand for chips is surging thanks to the frenzy around artificial intelligence. SK Hynix priced its American depositary…
SK Hynix Surges 13% on First Day of NASDAQ Listing... Successful Debut. Opening Price at $170 Per Share, 14.1% Higher Than IPO Price. International Oil Prices Fall 0.9%. SK Hynix made a successful debut on the NASDAQ, surging 13.08% on its first day of trading. The opening price was $170, higher than the IPO price of $149 per share.
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