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Saturday, June 24, 2017
Memory Industry News
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SK hynix's quarterly profit to double


Wednesday, March 15, 2017

SK hynix’s first-quarter operating profit will surge 285 percent on-year to 2.16 trillion won (US$1.88 billion), said Hana Financial Investment on March 13, raising the estimates by 21 percent from the previous assessment.

The price hikes of both its DRAM and NAND chips are sharper than expected and despite being the off-season, the revenue and operating profit will increase from the same period last year, said analyst Kim Rok-ho.

The stock price fell 12 percent from the peak, as investors are concerned about the price cut of DRAM for personal computers and oversupply, but the fall is disproportionate as it has secured a competitive edge against Micron Technology of the US, whose stock price rose by 4 percent, said the analyst.

Kim maintained a “buy” recommendation and 68,000-won target price saying that he has raised earnings estimates for both this quarter and the whole year and the market will agree as well.

By: DocMemory
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