SK Hynix expected to surpass first-quarter profit forecasts due to rising chip prices
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Glonghui, January 30|Nomura Securities analysts C.W. Chung and Eon Hwang stated in a report that due to a higher-than-expected increase in storage chip prices, SK Hynix’s first-quarter earnings performance may be even stronger. The analysts raised their quarterly operating profit forecast for the Korean chipmaker from the previous 2.1 trillion KRW to 2.9 trillion KRW. The report noted that DRAM and NAND storage product prices are expected to rise by 56% and 40% quarter-on-quarter, respectively, outpacing Nomura’s previous forecasts of 23% and 20%. Nomura raised SK Hynix’s target price by 42% to 1.25 million KRW and maintained a Buy rating. SK Hynix recently rose 4.5%, trading at 900,000 KRW.
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