0830 GMT - SK Hynix's 4Q earnings are likely to take a hit from continuously weak demand for memory chips, Shinyoung Securities says in a note. The South Korean chip maker's operating profit is expected to fall 95% on year in the quarter, according to the brokerage. The company's selling prices of DRAM and NAND chips are forecast to fall 25% and 24% on quarter, respectively, in 4Q, as its DRAM inventory is expected to run high until 1H 2023 despite a cut in its capital expenditure, Shinyoung says. It maintains its buy rating and KRW120,000 target on the stock, which closed 2.4% lower at KRW86,300.(kwanwoo.jun@wsj.com)
(END) Dow Jones Newswires
November 21, 2022 03:30 ET (08:30 GMT)
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