SK Hynix's stock price erased some of its losses before the market opened, and its previously announced second-quarter operating profit fell short of expectations
SK Hynix shares fell as much as 6.5% in Nextrade pre-market trading before fluctuating between gains and losses after the memory maker reported second-quarter operating profit that fell short of expectations. Pay attention to the trends of memory peers and the entire chip sector. Samsung Electronics shares also fluctuated between gains and losses. SK Hynix said memory prices have increased "significantly" compared with the previous quarter and it expects memory demand growth to continue. The company has signed long-term agreements with about 10 customers; it will begin bulk shipments of HBM4 in the second quarter and will gradually expand production capacity in the second half of the year.