0700 GMT - SK Hynix's 2Q earnings are set to improve on a fast rebound in memory-chip prices, HSBC analysts Ricky Seo and Hankil Chang write in a note. The South Korean memory-chip maker is likely to benefit from strong capex growth at Chinese cloud-computing service providers and inventory-restocking demand for smartphone and personal-computer memory products, the analysts say. Artificial-intelligence-enhanced devices using more memory products and a cut in NAND chip production also support the earnings improvement, they add. HSBC raises its target price for the stock by 6.3% to KRW340,000 and keeps a buy rating. Shares end 3.4% higher at KRW184,400. (kwanwoo.jun@wsj.com)
(END) Dow Jones Newswires
April 25, 2025 03:00 ET (07:00 GMT)
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