On August 24, SK hynix fell 3.34% in pre-market trading, trading at $157.47/share, with turnover of $9.77 million. The decline was driven by broad-based selling across the semiconductor sector and multiple analyst downgrades on storage cycle concerns.

The semiconductor sector faced widespread pressure, with peers Micron Technology down 3.96%, Intel down 2.45%, and Advanced Micro Devices down 2.45%. Several brokerages recently cut their target prices for SK hynix, with Mirae Asset Securities lowering its target from 4.2 million KRW to 2.8 million KRW and Shinhan Investment Securities reducing its target from 4.2 million KRW to 2.7 million KRW, reflecting growing concerns that the memory chip cycle may be peaking.

Additionally, SK hynix had accumulated significant gains in recent sessions, fueled by its 40 trillion KRW buyback announcement and plans to build a memory chip factory in Miyagi, Japan. Market participants now view these catalysts as fully priced in, creating short-term profit-taking pressure.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)