Memory Chip Stocks Rise Across the Board Pre-Market as SK Hynix Leads With 6% Surge
TradingKey - Memory chip stocks reverse their decline, surging collectively in pre-market trading, with SK Hynix leading the gains.
On July 27, Eastern Time, memory chip stocks rallied collectively in pre-market trading, recouping some of the ground lost during Friday's sharp sell-off. Among them, SK Hynix ( SKHY) performed the strongest, rising nearly 6%; SanDisk ( SNDK) rose nearly 5%, Western Digital ( WDC) rose nearly 4%; Micron Technology ( MU) , Seagate Technology ( STX) and Silicon Motion ( SIMO) all rose over 3%.
SK Hynix stock price chart, Source: TradingView
Ranking only behind Samsung, SK Hynix, and Micron, ChangXin Technology, the world's fourth-largest DRAM manufacturer, debuted on the STAR Market of the Shanghai Stock Exchange today. It surged over 400% on its first day of trading, and this phenomenal rally has become a major catalyst and valuation anchor for the global memory sector's collective surge.
SK Hynix has delivered an outstanding performance in this rally, as it continues to be driven by other major tailwinds. According to the latest news released by the South Korean presidential office, SK Hynix and Samsung Electronics have officially signed long-term strategic cooperation agreements for AI semiconductors with major U.S. tech giants, with the total scale of cooperation expected to reach up to $950 billion.
In addition, SK Hynix will release its financial results this Wednesday (July 29). The market expects its Q2 operating profit to reach up to 64.1 trillion won (approximately $43.7 billion), which means it will not only set a new single-quarter record in the company's history but will also surpass its total projected profit for the entire year of 2025 in one fell swoop.
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Past performance is not a reliable indicator of future performance and/or results. Forward-looking scenarios or forecasts are not a guarantee of future performance. Actual results may differ materially from those anticipated.
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