[Market Focus] SK Hynix Rises Over 3% as Nvidia Hits Record High

As the stock price of Nvidia, the leading artificial intelligence (AI) company, hit an all-time high, SK Hynix is also continuing its strong performance in the domestic stock market on June 26.

As of 9:40 a.m. on this day, SK Hynix shares were trading at 295,500 won, up 3.32% from the previous session. In the pre-market session on the alternative exchange Nextrade, the price even reached 300,000 won per share.

This rally is attributed to renewed expectations for AI investment demand, following Nvidia's stock price exceeding $150 per share for the first time ever in the New York stock market overnight. On June 25 (local time), Nvidia closed at $154.31, up 4.33% from the previous session, reclaiming its position as the company with the largest market capitalization.

Additionally, investor sentiment was further boosted by strong earnings released by Micron Technology, which is considered a major HBM supplier alongside SK Hynix. For the third quarter of its fiscal year, Micron Technology reported sales of $9.3 billion and earnings per share of $1.91, far exceeding market expectations of $8.87 billion and $1.60, respectively.

In the domestic securities industry, there is a continued trend of raising target prices for SK Hynix. Hyundai Motor Securities raised its six-month target price for SK Hynix from 280,000 won to 325,000 won on this day. Analyst Noh Geunchang recommended a buy, stating, "As the leading HBM company and now the top DRAM supplier by revenue in the first quarter, SK Hynix is benefiting from both its business performance and the rising valuation multiple in the Korean market."

Previously, KB Securities raised its target price for SK Hynix from 280,000 won to 340,000 won, while Samsung Securities increased its target from 250,000 won to 340,000 won. Korea Investment & Securities also raised its target from 320,000 won to 340,000 won.

Meanwhile, at the same time, other semiconductor stocks such as Mirae Semiconductor (+22.27%) and Hanmi Semiconductor (+8.10%) are also showing strong gains. In contrast, Samsung Electronics is down by more than 1%.