Why Is SK Hynix Stock Surging Thursday?
Key takeaways
- SK Hynix stock surged 8.13% on Thursday, driven by Sandisk's upbeat outlook and Intel's interest in new memory architecture.
- SK Hynix stock surged 8.13% to $166.96 on Thursday
- Sandisk's adjusted gross margin is expected to be about 80%
- Sandisk's adjusted free cash flow margin is expected to be roughly 50%
What happened
SK Hynix stock surged 8.13% to $166.96 on Thursday, joining a broad rally in memory and storage stocks.
Why it matters
The rally was driven by Sandisk's upbeat multiyear financial outlook, which included an adjusted gross margin of about 80% and an adjusted free cash flow margin of roughly 50%. Intel's CEO also expressed interest in exploring new memory architecture, boosting sentiment across the sector.
Short-term and longer-term
Short-term. SK Hynix stock surged 8.13% on Thursday, driven by Sandisk's upbeat outlook and Intel's interest in new memory architecture.
Longer-term. SK Hynix has a Buy consensus rating and an average price forecast of $245.50.