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SK Hynix’s market value drops by $470B as a rift appears in the memory chip boom

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In just over a month, SK hynix’s market value evaporated by $470B, dropping from one of the hottest AI-themed trade ideas globally into a problematic position in investors’ portfolios. With investors worried that AI-theme trading has become overcrowded and that leveraged trading has caused volatility to surge, the South Korean memory chip giant’s share price has plunged about 38% from its June all-time high. During this period, the scale of SK hynix’s market-cap decline ranks second worldwide only to SpaceX. As the AI boom drives chip prices higher, SK hynix is expected to report another record quarterly performance on Wednesday, but investors are growing increasingly cautious, worrying that memory chip costs are continuously rising—potentially forcing customers to use less and switch to cheaper alternatives. (Sina Finance)
SK Hynix-14.64%
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