SK Hynix ADR Surges 27% Overnight as IBM Signals Strong Memory Chip Demand

SKHY26.29%
IBM-25.23%
SK Hynix's U.S. ADR surged 27.29% on July 14 (local time) following IBM's Q2 earnings report, which confirmed robust demand for memory semiconductors. IBM CEO Arvind Krishna disclosed in an investor letter that customers prioritized purchasing servers, storage, and memory over software, reallocating Q2 capital expenditure amid supply constraints. Barclays set SK Hynix ADR's price target at $330 (where one ADR equals 0.1 shares), citing expectations of continued industry supply shortages through 2028. The rally extended to South Korea's KOSPI index, which closed up 6.24% at 7,284.41 on July 15.
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