Profit-taking and earnings concerns following SK Hynix’s Nasdaq debut drove declines in global memory and AI-related equities.
Memory and AI-related chip stocks dropped in premarket trading Monday as South Korean peers SK Hynix and Samsung Electronics led losses. SK Hynix fell approximately 15% after its U.S. Nasdaq debut on Friday, triggering broader sell-offs.
Investors took profits following the listing, while concerns over SK Hynix’s upcoming earnings weighed on sentiment. Samsung Electronics also declined sharply, reflecting broader market weakness in the sector. The U.S. accounted for 65% of SK Hynix’s recent quarterly revenue, with China and South Korea contributing far less.
The sell-off extended to global memory and AI-related stocks, signaling a cautious shift in investor positioning ahead of earnings reports.