Apple Supplier SK Hynix’s Outlook Sours as Tech Demand Wanes
- Chipmaker is preparing to “significantly” adjust 2023 capex
- Hynix joins Samsung, other tech giants in cautioning on demand
The SK Hynix Inc. semiconductor plant in Icheon, South Korea.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
South Korean chipmaker SK Hynix Inc. warned of waning memory growth and rising inventories, becoming the latest tech giant to sound the alarm over global economic uncertainty.
The downbeat sentiment came after the Apple Inc. supplier logged a 56% jump in second-quarter profit on resilient demand and a weak Korean won on Wednesday. But executives said they see a slowdown in demand from its main growth engines of PCs, smartphones and servers.