TECH - Key Nvidia Supplier SK Hynix To Get Further Boost From AI Demand Even After 90% Stock Surge Goldman Sachs And Citi Predict | Benzinga
Shares of South Korean chip supplier, SK Hynix Inc., have soared over 90% in the past year, and Wall Street analysts predict further growth.
What Happened: In the past month, 19 analysts have revised their forecasts upwards for SK Hynix, a major supplier of high-bandwidth memory chips to Nvidia Corp. (NASDAQ:NVDA). The revisions are driven by the high potential for AI and the anticipation of a positive surprise in this month’s earnings, Bloomberg reported on Friday.
Goldman Sachs Group Inc. (NYSE:GS) increased its stock-price target to 290,000 won ($210) on Tuesday, indicating a potential gain of 25% from that day's close. Citigroup Inc. (NYSE:C) last week raised its prediction to 350,000 won, ...