Investors continued to dump chipmaker stocks on Wednesday following disappointing results from SK Hynix, sending Asian markets lower amid fears about the AI boom’s sustainability.
The world’s second-largest memory-chip maker reported a 557 per cent surge in operating profit to a record Won60.5tn ($42bn) in the three months to 30 June compared with the same period last year.
That missed a forecast of Won64tn by LSEG SmartEstimate, while sales also fell short of estimates despite jumping 257 per cent to Won79.3tn ($55bn).
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