SK Hynix Chairman Warns Memory Prices 'Abnormal' as Micron Tries to Snap Losing Streak
MU has more than doubled off its 52-week low of $103.38.
Summary
SK Hynix's chairman called current memory prices 'abnormal' and said they must normalize, but also forecast demand rising 60% next year and supply tight through 2027. The warning comes as Micron shares attempt to break a three-day slide, up 4.2% premarket after a 30% monthly drop that pushed its market cap below $1 trillion. KeyBanc analyst John Vinh sees no loosening until at least 2028 and maintains a $1,750 target. The mixed signal—near-term price risk versus sustained demand—leaves traders weighing whether the selloff is overdone.
At the time of this announcement, MU was trading at $883.91 on NASDAQ in the Technology sector, with a market capitalization of approximately $958.8B. The 52-week trading range was $103.38 to $1,255.00. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.