Strong AI memory chip demand reported by SK Hynix drives premarket gains in related stocks despite a 10% share drop.
Memory and AI-related stocks rose in premarket trading after SK Hynix highlighted robust demand for its chips, offsetting a nearly 10% decline in its shares following a second-quarter earnings miss. The company cited rising orders from major tech firms investing in infrastructure, supporting multi-year supply deals.
SK Hynix’s results initially dragged down Korean stocks and indexes, but competitors like Micron, Western Digital, and Seagate Technology saw premarket gains. Some AI and networking chipmakers also advanced, though not all peers followed the upward trend.
The mixed reaction reflects investor focus on long-term demand trends over short-term earnings volatility in the semiconductor sector.