April 27, 2024

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[THE INVESTOR] Chipmaker SK hynix's shares reached a high of 50,200 won (US$41.90) in early morning trading on Jan. 10, on the back of rising prices and strong demand for memory chips.

This is the highest share price since it crossed the 50,000-won mark on June 3, 2016, when it recorded 51,700 won.

“The operating profit of SK hynix during the fourth quarter last year is forecast to beat previous market consensus by logging 1.47 trillion won,” said Lee Seung-woo, an analyst from IBK, predicting that the increasing prices of DRAM chips and strong demand for NAND flash memory chips will further drive the growth of the firm’s chip business.

Last year, the shares touched a low of 25,650 won on May 18, but have been on the upward trend since.

The company unveiled a new mobile DRAM chip, which will be fitted in Samsung Electronics’ Galaxy S8 and Apple’s iPhone 8.

The affiliate of SK Group will announce its earnings report for the fourth quarter later this month.

By Kim Young-won (wone0102@heraldcorp.com)