SK Hynix’s $24 Billion Rally Unraveling on US-China Tech War
- Investors see risks building after chipmaker’s outperformance
- SK Hynix rallied more than 60% through August on AI boom
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SK Hynix Inc.’s $24 billion rally this year faces pressure as the South Korean chipmaker finds itself embroiled in an intensifying US-China tech war.
A key supplier to both Apple Inc. and Nvidia Corp., SK Hynix has ridden this year’s artificial intelligence boom to surge more than 60% through the end of August. Bulls brushed aside the chipmaker’s dismal quarterly loss and warnings related to US restrictions on China, making the stock the most expensive among Asian chip giants.