Samsung (005930) and SK Hynix (000660) shares drop over 7% amid selloff
Published on Β· Source: cnbc.com
AI Summary
Summarized by AI from the source belowSamsung Electronics (005930) shares fell more than 7%, while SK Hynix (000660) tumbled over 9% in early Thursday trading, contributing to a significant decline in South Korea's Kospi index. This follows a slump in the tech-heavy Nasdaq Composite, where firms like Micron Technology saw declines exceeding 10%. In response to market conditions, SK Hynix CEO Kwak Noh-jung announced plans to invest 100 trillion Korean won ($64.37 billion) in new semiconductor facilities. The investments aim to increase production capacity for AI-related technologies and meet rising demand for advanced memory solutions.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
About Micron Technology Inc. (MU)
Micron Technology is a leading maker of memory chips, spanning DRAM and NAND flash.
The Information Technology sector covers hardware, software and semiconductor companies driving the digital economy.
Earlier MU news
- Yen Drops to 40-Year Low at 162.28 per Dollar Amid Dow Moves
- Amazon Web Services expands in AI, Intel and AMD see $2T rise
- Chip Rally Threat Volatility Hits Highest Level Since 2015
- Micron (MU), Intel (INTC), AMD See $2 Trillion Gain in Q2
- Micron (MU) Faces Lawsuit Over Alleged Price Fixing in Memory Market
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