▲ SK Hynix
SK Hynix American Depositary Receipts (ADRs), which were listed on the US Nasdaq on July 10, hit a record high since their listing.
On the 9th (local time), SK Hynix ADRs closed up 7.05% from the previous day at $198.63.
The intraday high reached $199.87.
The surge in SK Hynix ADR prices was largely driven by expectations that the memory supply shortage will persist for some time.
UBS analyst Timothy Arcuri forecasted that "the supply shortage for both DRAM and NAND flash will continue through 2027."
Dan Kim, Chief Strategy Officer (CSO) at research firm TechInsights, also evaluated the current overheated state of the memory market as an "8 out of 10," diagnosing that "it will remain at this level until at least the end of 2027."
In the market, assessments also emerged that memory inventories have dropped to less than 10 days' worth.
Bank of America (BoA) upgraded its investment rating for SK Hynix ADRs to 'Buy' and presented a target price of $250.
Eric Diton, President of The Wealth Alliance, compared the current semiconductor industry to "picks and shovels during the gold rush," evaluating that it is difficult for investors to find a better choice than semiconductors in the current market.
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