Memory Chip Frenzy Sends SK Hynix, Micron Into $1 Trillion Club
Bloomberg.com • • business
Key Points:
- SK Hynix Inc. and Micron Technology Inc. have both surpassed $1 trillion in market capitalization for the first time, driven by investor optimism around the AI industry's impact on memory-chip demand.
- SK Hynix's stock surged 9.3% in South Korea, marking a 12-month gain of over 1,000%, making it the third Asian company to join the $1 trillion market cap club after Samsung Electronics.
- Micron Technology experienced a 19% jump, its largest since 2011, following a UBS analyst's prediction that the stock could double within a year.
- The rapid rise in memory-chip stocks reflects heightened expectations that AI advancements will sustain a long-term revaluation of the semiconductor sector.