US Stock Market Move | SK Hynix (SKHY.US) rises over 4% in premarket trading; Nomura says there is a fundamental mispricing of memory

On Monday, SK Hynix (SKHY.US) rose over 4% in premarket trading to $155.38. On the news front, South Korea's October chip exports nearly doubled, marking the largest increase in more than 50 years. South Korean President Lee Jae-myung pledged bold investment in artificial intelligence to boost the country's economic growth potential. A recent report from Nomura Securities argued that there is a fundamental mispricing of the memory sector, with current pricing implying an assumption that earnings have peaked. The institution estimates that the 2027 forward price-to-earnings ratios of South Korean memory giants Samsung Electronics and SK Hynix are only about 2-3x, a 85-90% discount to tech giants.