SEOUL, April 8 - Shares of SK Hynix soared 15% after Samsung Electronics announced blockbuster quarterly earnings, driven by strong demand for AI infrastructure.
Samsung projected its first-quarter operating profit to surge more than eightfold, exceeding analyst forecasts amid rising chip prices from AI-related supply shortages.
Korea Investment & Securities increased its full-year profit forecast for SK Hynix by 28%, now projecting over 216 trillion won ($146.55 billion).
SK Hynix, the world’s second-largest memory chipmaker, is set to release Q1 earnings soon.
($1 = 1,473.8900 won)