SK hynix hits 1 million won, Samsung Electronics reaches 200,000 won in joint rally

[Financial News] The share price of SK hynix has surpassed 1 million won for the first time ever. Samsung Electronics also touched 200,000 won during intraday trading.
As of 12:56 p.m. on the 24th, SK hynix was trading at 1,000,500 won, up 5.21% from the previous session. At one point during the session, the stock climbed 4.71% to 1,001,000 won.
Samsung Electronics also rose as much as 2.99% intraday to reach 200,000 won, marking a new all-time high.
Han Dong-hee, an analyst at SK Securities, said, "We are raising our target price for SK hynix to 1.6 million won," adding, "Stronger-than-expected pricing power is being driven by low inventories among suppliers, structural demand for artificial intelligence (AI) memory, and constraints on expansion of production capacity."
Park Jun-young, an analyst at Hanwha Investment & Securities, assessed, "The key investment point for Samsung Electronics is the recovery of its competitiveness in HBM4 and the resulting explosive earnings growth from its overwhelming memory production capacity."
dschoi@fnnews.com Choi Doo-seon Reporter