Meet the Company Supplying 56% of the World's AI Memory Chips
The rise of artificial intelligence has supercharged this memory manufacturer's business.
Overview
The artificial intelligence tailwind has transformed the trajectories of companies in the tech sector, including Micron Technology. AI's need for enormous computational power has produced unprecedented demand for advanced memory chips, Micron's forte. Consequently, its business benefited, and so did its stock price, as shares skyrocketed more than 600% over the past 12 months through July 15.
Given this backdrop, it was inevitable that competitors would court U.S. investors. That's exactly what South Korean memory giant SK Hynix (NASDAQ: SKHY) did when it began offering American depositary shares (ADS) at $149 per share on July 10. It became the largest listing ever by a non-American company -- a sign of the extraordinary appetite for memory chip stocks among U.S. investors.
Details
Is SK Hynix bound to follow Micron's spectacular stock rise? Here's a deeper look into the company to assess whether now is the time to invest in the Korean manufacturer.
Source
Originally published at www.fool.com.