After U.S. competitor Micron Technology reported strong earnings, investors turned their attention to SK hynix. Analysts expect the memory chip industry’s upturn to continue, driven by soaring demand for High-Bandwidth Memory (HBM) and other chips used in AI. They say AI demand could support rising DRAM prices into next year.
But recent data points to significant selling pressure on SK hynix shares. South Korea’s wealthiest investors were major net sellers in the third quarter, taking profits. The previous month, foreign investors also sold more than 12 trillion won worth of the company’s shares.