SK Hynix’s Nasdaq debut could reduce its 35% valuation discount to Micron by improving U.S. investor access and liquidity.
SK Hynix’s recent Nasdaq listing may help close its long-standing 35% valuation discount to rival Micron Technology. The gap stems from structural factors like limited U.S. investor access and lower free float, not business performance, as SK Hynix leads in high-bandwidth memory for AI systems and has outperformed Micron in operating margins.
Historically, Micron has traded at a premium due to greater liquidity and perceived shareholder alignment. SK Hynix’s direct dollar-denominated listing could attract U.S. capital, a trend seen with other Asian tech firms like Taiwan Semiconductor Manufacturing.
The move addresses a decade-old disparity, though its impact may hinge on broader market sentiment toward AI and memory chip demand.