Top AI Memory Maker SK Hynix May Add to 95% Rally
- SK Hynix still trading cheaper than peers Samsung, Micron
- ‘Too risky not to own SK Hynix,’ says DS Asset’s Yoon
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Investors are bullish on the chance for more gains in shares of Nvidia Corp.’s top memory supplier SK Hynix Inc., which remain cheap even after a huge runup.
The South Korean company’s stock has surged 96% since the start of last year, far outpacing memory rivals Samsung Electronics Co. and Micron Technology Inc. Yet it’s still trading at just 11 times forward earnings estimates, compared with 15 for Samsung, 30 for Micron and 27 times for the Philadelphia Semiconductor Index.