SK hynix reports record Q4 earnings due to high AI memory chip demand, but faces smartphone chip market challenges.

South Korean chipmaker SK hynix reported record quarterly earnings for Q4 2024, driven by strong demand for AI memory chips, especially high bandwidth memory (HBM). The company's net income reached 8 trillion won ($5.6 billion), a significant improvement from a loss the previous year. Despite these gains, SK hynix's stock initially fell due to concerns about weaker demand for commodity memory chips used in smartphones and PCs, and increased competition from Chinese firms. The company forecasts continued growth in HBM sales but expects only a slight increase in 2025 capital expenditure.

2 months ago
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