SK Hynix is trading 5% up at $1355.00 as semiconductor shares rally on improved sentiment regarding memory chip profitability and heavy hedge-fund buying.
- The stock is rebounding from a sharp selloff tied to profit-taking and a downgrade of Q2 operating profit estimates that hit the shares on July 13.
- Today's move follows a broader sector recovery, with institutional investors returning to the semiconductor space after a recent downturn.
- Market sentiment has turned positive regarding the outlook for memory chip margins and overall sector profitability.