SK hynix set a new high since 2000.
At 9:26 a.m. on the 24th, SK hynix shares were trading at 500,000 won on the KOSPI market. Early in the session, the stock rose to as high as 504,000 won, once again marking the highest price since the 2000s.
Shares weakened the previous day as concerns over a U.S.-China trade dispute grew again, but SK hynix investor sentiment appears to have revived as semiconductor stocks rebounded overnight on the New York market.
With forecasts mounting that semiconductor demand will grow around artificial intelligence (AI), target prices for SK hynix are continuing to be revised upward.
Global investment bank (IB) JP Morgan said in a report the previous day that the market is at the beginning of an upswing cycle for memory semiconductors and set a target price of 650,000 won for SK hynix. It raised the target by 190,000 won in a month.
However, JP Morgan advised that AI investment could shrink depending on geopolitical variables and that prices for DRAM, including High Bandwidth Memory (HBM), may not rise as much as expected, so investors should check the trend closely each quarter.