Micron, SK Hynix Hit $1trn Valuation Amid AI Chip Demand
AI-driven demand for memory chips lifted both companies after Micron and SK Hynix each gained more than 19% this week, analysts said.
- Shares in SK Hynix Inc. jumped on Wednesday, taking the South Korean chipmaker's market capitalization above $1 trillion for the first time, with U.S. tech group Micron joining the $1 trillion club within 24 hours.
- The rally stems from surging demand for AI chips, which has driven SK Hynix's stock around 250% higher since the start of the year and pushed South Korea's KOPSI to record highs.
- UBS tripled its price target for the stock on Tuesday, sending shares 19% higher on the day, as computing and electronics earnings nearly doubled from a year ago.
- Japan and South Korea hit fresh record highs as markets weighed U.S.-Iran ceasefire talks against fresh tensions, while the S&P 500 closed at another record Tuesday and Europe headed for a mixed open.
- With Iran developments temporarily fading from market focus, European companies deepen supply chain commitments to China as SK Hynix advances premium memory chip production at its Seongnam, South Korea facility.
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Micron Hits $1 Trillion With Dizzying Speed
Micron has become the 12th American company to hit $1 trillion in valuation, and it did so with dizzying speed. The Boise-based memory chip maker topped that valuation Tuesday after its stock jumped more than 19% , capping an 80% gain over the past month as investors pile into anything tied...
The current rally in chip stocks is shaping up to be one of the best periods in the history of the sector. • The industry index has jumped more than 80% in the last two months, and two stocks in the sector crossed the trillion-dollar mark this week. • What is driving the surge, how does it affect Israel, and what should every beginning chip investor know?
The $1 Trillion Market Cap Club Grows To 14 Members As AI Fuels Unprecedented Valuations
Membership in the $1 trillion market capitalization club is becoming less exclusive, with 14 companies now holding that distinction, driven largely by artificial intelligence demand. SK Hynix and Micron Technology have joined the club on the back of surging demand for memory chips, with SK Hynix posting a 12-month stock price jump of 1,000%. The two chip makers joined Samsung, which was also recently added to the list of companies valued at $1 t…
Both companies, along with Samsung (which also surpassed that valuation recently) dominate the market for RAM and storage chips
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