South Korean chip stocks rallied on Thursday after Micron Technology reported a record quarter and an upbeat outlook, reviving optimism that demand for AI memory will stay tight well into next year.
The benchmark KOSPI rose about 4.1%, with the country’s two memory makers, which together account for more than 55% of the index, doing most of the lifting.
Samsung Electronics climbed 5.3% to 358,500 won. SK Hynix, the smaller but now more valuable of the pair, rose 9.2% to 2.818 million won, according to Reuters. Foreign buyers led the move, reversing two days of chip-sector weakness in a single session.
The catalyst came from across the Pacific. Micron, the largest US maker of computer memory and a key supplier to Nvidia, posted fiscal third-quarter revenue of $41.46bn for the March to May period, far ahead of the roughly $35.84bn analysts polled by LSEG had expected.
The company guided fourth-quarter revenue above Wall Street estimates and said demand for AI memory would keep supply tight through at least 2027. For two memory houses whose fortunes track the same cycle, that was read in Seoul as a forecast about their own order books.The 💜 of EU techThe latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!
