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Real-time News
On July 29th, SK Hynix (SKHY.O) released its financial report on Wednesday, showing a 557% surge in operating profit to 60.5 trillion won (approximately US$41.62 billion) in the second quarter, a record high, driven by strong demand for advanced memory chips fueled by increased investment in AI data centers by tech giants. This figure was compared to 9.2 trillion won in the same period last year. However, this figure fell short of market expectations of 64 trillion won, mainly because its high-end memory chips (HBM) accounted for a higher proportion of its product mix compared to competitors, thus failing to fully benefit from the current strong price increase cycle in conventional memory chips. This exacerbates concerns that the AI boom driving the semiconductor industry may be slowing down. SK Hynixs revenue also missed expectations, with the report showing second-quarter revenue of 79 trillion won, compared to market expectations of 84 trillion won. Following a 9% drop in its earnings report, SK Hynix shares fell another 9% in after-hours trading after closing down 9% on Tuesday. SanDisk (SNDK.O) and Micron Technology (MU.O) also fell by more than 4%, wiping out the boost from Seagate Technologys (STX.O) earnings report.The Federal Aviation Administration (FAA) has issued a grounding order for all American Airlines Group (AAL.O) flights across the United States due to an information technology problem.SK Hynix (SKHY.O): is evaluating additional shareholder return measures to enhance the scale and sustainability of returns.SK Hynix (SKHY.O): Long-term agreements will enhance medium- to long-term demand visibility.SK Hynix (SKHY.O): It expects NAND shipments to grow at a low single-digit percentage rate in the third quarter.
