SK Hynix jumps 14% on their first day of Nasdaq trading
According to LSEG data cited by CNBC, SK Hynix trades at a lower forward earnings multiple than US rival Micron despite its lead in high-bandwidth memory.
Rolf Bulk of Futurum Group told CNBC he sees “room for that gap to narrow with the ADR listing,” while not expecting the discount to close fully.
Zavier Wong, a market analyst at eToro, was more skeptical, telling CNBC that “Hynix’s stock going up isn’t the same as the discount shrinking.”
SK Hynix supplies the high-bandwidth memory that powers AI accelerators from Nvidia, and the two firms announced a multi-year partnership in June.
The company plans to fund new factories and equipment from the proceeds, part of a wider expansion that includes a US$4bn plant in West Lafayette, Indiana, scheduled for completion in 2028.
