From The Motley Fool · Danny Vena, CPA · · 40s
Sandisk Stock Rallies on AI Chip Demand
Sandisk shares jumped 6.4% after SK Hynix reported record AI chip revenue.
In brief
Sandisk shares jumped 6.4% after SK Hynix reported record AI chip revenue. Sandisk stock rose 5.9% as SK Hynix's AI chip demand outlook boosted semiconductor stocks. Originally reported by The Motley Fool.
Sandisk Shares Jump
Sandisk stock rose 5.9% Wednesday after trading up 6.4% during the session.
SK Hynix Reports Record Revenue
SK Hynix reported 104.6 trillion won in ai chip revenue, a 328% year over year surge.
AI Chip Demand Outlook
SK Hynix predicts ai memory chip demand will outpace supply through 2030.
“Demand [is] expected to outpace supply through 2030”
Sandisk Valuation Strength
Sandisk trades at 19 times earnings despite 650% stock gain over the past year.
The bottom line
Sandisk stock rose 5.9% as SK Hynix's AI chip demand outlook boosted semiconductor stocks.
