[Market Focus] SK Hynix Surges 7%... Surpasses 920,000 Won
The share price of SK Hynix surged more than 7% from the previous session, surpassing 920,000 won for the first time in history.
As of 10:21 a.m. on January 30, SK Hynix was trading at 924,000 won, up 63,000 won (7.32%) from the previous session.
On January 28, SK Hynix announced that it had achieved its highest-ever performance. In the fourth quarter of last year, SK Hynix posted an operating profit of 19.1696 trillion won on a consolidated basis, up 137.2% year-on-year, while revenue increased by 66.1% to 32.8267 trillion won.
The securities industry also expressed a positive outlook on SK Hynix. Kim Younggeon, a researcher at Mirae Asset Securities, stated, "Due to memory capacity (CAPA) constraints and inventory reduction, the proportion of long-term supply contracts is expected to increase, and the outlook for memory prices and profits is extremely clear."
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On this day, Mirae Asset Securities raised its target price for SK Hynix by 43.3% to 1,370,000 won, up from the previous target of 956,000 won.
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