South Korea's SK Hynix forecast sales of its high-end semiconductors used in generative artificial intelligence chipsets would double this year after reporting a record quarterly profit that surpassed its bigger rival Samsung.

The South Korean memory-chip maker reported record quarterly and annual results after stronger-than-expected earnings for the final quarter of 2024 on robust chip demand.

Shares of Micron (NASDAQ:MU) are down about 3.5% on the day. About This Article  Shares of Micron are down about $4.50 on the day thanks to Nvidia supplier, SK Hynix. Granted, SK Hynix did post a record quarterly profit.

South Korea’s SK Hynix posted an operating profit of 8.08 trillion won ($5.6 billion) in the December quarter, slightly above the 8 trillion won average forecast by LSEG SmartEstimate. The company also boosted its annual dividend by 25% to 1,

Nvidia stock rose modestly early Friday as investors digested a raft of mixed news over the past few days. Shares were up 0.1% to $147.34 in premarket trading. It closed almost flat Thursday after starting the day in the red as a fresh outlook from supplier SK Hynix cast doubt over future demand for its products.

Industry sources indicate that thermal issues associated with GB200 have prompted major clients including Microsoft, Amazon, Google, and Meta to reduce their orders, impacting not only Nvidia's product sales and revenue but also creating significant implications for its primary HBM supplier,

South Korea’s SK Hynix, one of the world’s largest memory chipmakers supported by strong sales of high bandwidth memory (HBM) used in generative AI.

Dallas-based Texas Instruments gave a disappointing earnings forecast for the current period, hurt by still-sluggish chip demand and higher manufacturing costs.

Looking at Ciena, the company supplies to both Microsoft and Oracle. As the Stargate venture drives the creation of data centers in disparate locations, Notter thinks that Ciena's wavelength-division-multiplexing technology could help connect them.

My bearish view on Micron has been ill-timed, as the stock has rallied hard since, prompting me to revisit my views. Explore more details here.

The company’s Q4 revenue increased by 12%, and its operating profit rose by 15%, making for its best quarter ever, SK Hynix said in a statement. The company also announced that its revenue for the year was 66.1930 trillion won (roughly $46.13 billion). SK Hynix raised its annual fixed dividend for shareholders by 25%.