SK hynix is surfing the AI hype wave by setting up what it nebulously describes as a solutions biz to further exploit the hysteria. The chipmaker is already flying high on the back of booming demand for datacenters. Its share price has quadrupled in the past year as it supplies a vital component, one now in tight supply. Judging by its financials published today, the AI gravy train isn't slowing.
In early January, 24/7 Wall St. selected South Korean memory producer SK Hynix (000660.KS) as one of our top picks for an AI stock that could double in 2025 . We singled out the stock for two primary reasons: it was cheap, and we believed SK Hynix could continue seeing astonishing growth rates in 2025 and beyond. How cheap was SK Hynix at the beginning of the year? The stock was trading for just 5.4X its next year's estimated profits.
The new NAND flash boasts 15% higher random read and 40% higher random write speeds, making it ideal for advanced smartphones focused on slim designs and AI tools.
