SK Hynix Pares 4% Drop After Denying Talks to Buy Intel’s Ohio Fab as Market Shrugs Off Iran Jitters Quick Read – SK Hynix filed a Korea Exchange regulatory denial of reports it would acquire Intel’s Ohio fab; SKHY shares dropped 4% but then trimmed the loss to 2%. – Micron…
ock held flat and Western Digital stock rose 2%, confirming that the sell-off is mainly SK Hynix-specific rather than a broad memory sector retreat. – SK Hynix’s role as NVIDIA’s primary HBM supplier stays intact, with its July 29 earnings the next catalyst for shipment and spending guidance. – Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Micron Technology didn’t make the cut. Grab the names FREE today
Shares of SK Hynix (NASDAQ:SKHY) are trading lower this Wednesday morning, with SK Hynix stock down 2% to $167.72 after an early dip of 4%. The Korean memory giant pared much of that loss after issuing a formal denial of a Korea JoongAng Daily report claiming it was in talks to acquire Intel’s (NASDAQ:INTC) under-construction Ohio semiconductor fab campus. The move arrives on a session where the broader NASDAQ 100 clawed back most of an early 0.5% drop tied to Middle East tensions, leaving the tape nearly flat on the session.
Denial Pulls the Stock Back After Ohio Fab Report In a July 22 Korea Exchange regulatory filing, SK Hynix stated it “continuously reviews various business investment and acquisition opportunities” but “has not pursued or decided to acquire Intel’s Ohio site and fab.” The rumor briefly lifted SK Hynix shares, and the denial pulled them back. Intel separately reaffirmed its commitment to the Ohio project, with Intel stock nearly unchanged at $105.48 as the counterparty in the denied rumor. Moor Insights & Strategy’s Patrick Moorhead called the reported talks “highly unlikely,” reinforcing that the story never had strong industry backing.