April 26, 2024

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[THE INVESTOR] SK hynix shares hit a new 52-week high of 46,250 won (US$39) on Dec. 8 on upbeat outlook for the chipmaker’s DRAM business in the coming months.

The price soared to a record 46,650 won in early trading on the day but closed up 2.21 percent, or 1,000 won, from the previous day. 

Mirae Asset Securities suggested a target price of 55,000 won, citing the growing demand for DRAM chips that are used for temporary data storage.

“With the manufacturing technology getting more and more sophisticated, leading players like SK hynix would continue to secure a competitive edge over smaller rivals,” the securities firm said.

Despite its recent strategic shift toward NAND chips that are used for long-term storage in smartphones and computers, SK hynix, the nation’s No. 2 chipmaker, still sees almost 70 percent of its chip sales from DRAM.

By Lee Ji-yoon (jylee@heraldcorp.com)