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Search resuls for: "Korea's SK Hynix"


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☆ SK Hynix warns chip downturn to worsen in Q1, posts record quarterly loss
  + stars: | 2023-02-01 | by ( Joyce Lee Heekyong Yang | Joyce Lee | Heekyong Yang | ) www.reuters.com   time to read: +4 min
[1/2] Memory chips by South Korean semiconductor supplier SK Hynix are seen on a circuit board of a computer in this illustration picture taken February 25, 2022. SK Hynix flagged lower chip prices in the current quarter. For the fourth quarter ended December, SK Hynix swung to a worse-than-expected 1.7 trillion won ($1.38 billion) operating loss, from 4.2 trillion won profit a year earlier. Analysts had expected a 1.3 trillion won operating loss, according to Refinitiv SmartEstimate. On its earnings call, SK Hynix said it will focus its resources on advanced chips to prepare for a market upturn in 2024.
☆ Morgan Stanley has a ‘simple’ tech playbook, names TSMC and others as stocks to buy right now
  + stars: | 2023-01-27 | by ( Zavier Ong | ) www.cnbc.com   time to read: +3 min
Despite the recent rally, few believe the downturn in tech has bottomed — but Morgan Stanley believes investors should not sit on the sidelines. Stay invested even if a recession strikes Morgan Stanley believes investors should continue to selectively own Asia tech names even if a widely anticipated recession materializes, given the sector's historical resilience. Stock picks Morgan Stanley recommends investing in commodity and consumer cyclical companies "that will likely be first to come out of the downturn." Morgan Stanley also likes Samsung Electronics on the back of its market share gains, dividend support and potential for growth through M & A. Morgan Stanley has a price target of 700 Taiwan dollars ($23.10) on TSMC, which implies an upside of around 40%.
☆ Chipmaker STMicro sees sales growth slowdown in fourth quarter
  + stars: | 2022-10-27 | by ( Mathieu Rosemain | ) www.reuters.com   time to read: +2 min
Bigger rival Texas Instruments Inc (TXN.O) earlier this week that it expected demand across most of its end markets to decline, while South Korea's SK Hynix Inc (000660.KS) warned of an "unprecedented deterioration" in memory chip demand. STMicro said it expected fourth-quarter sales to edge up by 1.8% from the previous quarter to about $4.4 billion. Co-controlled by the Italian and French governments, STMicro said demand rose across all its products in the third quarter, beating market expectations. Net revenue in the third quarter rose to $4.32 billion, above the company's own guidance and the $4.24 billion analyst consensus compiled by Visible Alpha. Reporting by Mathieu Rosemain; Editing by Muralikumar Anantharaman, Subhranshu Sahu and Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.
☆ In 'unprecedented' global chip slump, SK Hynix to halve investment as recession looms
  + stars: | 2022-10-26 | by ( Joyce Lee Heekyong Yang | Joyce Lee | Heekyong Yang | ) www.reuters.com   time to read: +4 min
Investors looked beyond the bleak outlook to welcome the aggressive investment cut, sending SK Hynix shares 1.7% higher in a bet the scale of the action would help control chip oversupply and prop up chip prices. SK Hynix said its operating profit fell to 1.66 trillion won ($1.16 billion) in the July-September quarter, from 4.2 trillion won a year earlier. The result was below analysts' expectations of a 1.87 trillion won profit, according to Refinitiv SmartEstimate. SK Hynix said its 2022 investment is expected to be at the "upper range of 10-20 trillion won ($7-14 billion)", meaning 2023 investments could fall below 10 trillion won. SK Hynix also warned of uncertainties involving its chip plants in China due to U.S. export restrictions on advanced chip equipment to China aimed at slowing Beijing's technological advances.
☆ Chipmaker UMC cuts capex in readiness for prolonged downturn
  + stars: | 2022-10-26 | by ( Sarah Wu | ) www.reuters.com   time to read: +3 min
The company has revised 2022 capital expenditure down to $3 billion, compared with a previous plan for $3.6 billion, said finance chief Chitung Liu. However, expansion in Singapore and Tainan in southern Taiwan are progressing as planned to meet long-term supply commitments, Wang said. However, UMC will continue to monitor developments and "take risk-management measures as necessary", he added. Shares in UMC closed 3.4% down on Wednesday and have fallen about 41% this year. ($1 = 32.1210 Taiwan dollars)Reporting by Sarah Wu Additional reporting by Ben Blanchard Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.
☆ SK Hynix Q3 profit plunges as economic downturn hurts chip demand
  + stars: | 2022-10-25 | by ( ) www.reuters.com   time to read: +1 min
[1/2] Memory chips by South Korean semiconductor supplier SK Hynix are seen on a circuit board of a computer in this illustration picture taken February 25, 2022. REUTERS/Florence Lo/IllustrationSEOUL, Oct 26 (Reuters) - South Korea's SK Hynix Inc (000660.KS) posted a 60% drop in third-quarter profit, missing estimates as red-hot inflation hurt demand for electronic devices and memory chips that go in them. The world's second-biggest memory chipmaker said on Wednesday its operating profit fell to 1.66 trillion won ($1.16 billion) in the July-September quarter, from 4.2 trillion won a year earlier. Analysts expected a profit of 1.87 trillion won, according to Refinitiv SmartEstimate. Prices of DRAM chips, used in devices and servers, fell around 20% in the third quarter from the second, SK Hynix said.
☆ Stay invested in chip stocks, says one fund manager — who reveals how he’s trading the sector
  + stars: | 2022-10-21 | by ( Ganesh Rao | ) www.cnbc.com   time to read: +3 min
The MSCI Semiconductor Index , a benchmark for chip stocks that's down by 43% this year, reflects the wider market's sentiment toward a potential slowdown in economic growth. In such an environment, some investors have begun to ask whether it might be prudent to dump chip stocks in favor of companies in other outperforming sectors. The portfolio manager revealed that he prefers holding on to Taiwan Semiconductor Manufacturing Company despite a 35% decline in the company's shares this year. The chip sector has historically run in boom and bust cycles. During economic growth, consumer demand for computers, laptops, and phones outstrips semiconductor manufacturing capacity, making the sector very profitable.
☆ Analysis: China faces its "Sputnik" moment as US export curbs deal a blow to its chip ambitions
  + stars: | 2022-10-13 | by ( ) www.reuters.com   time to read: +6 min
The measures are set to undermine China's efforts to develop its own chip industry aimed at reducing its reliance on foreign-made chips. These are the questions," says Marco Mezger, a consultant in Taiwan who tracks the global memory chip sector. Washington is also scrambling to tackle unintended consequences of its new export curbs, people familiar with the matter said. Hours before the new restriction took effect, South Korea's SK Hynix (000660.KS) said it got U.S. authorization to receive goods for its chip production facilities in China without additional licensing imposed by the new rules. Yet business at toolmaking firms servicing Chinese customers has already slowed dramatically, leaving their staff with little work to do but creating an opening for Chinese equipment makers seeking to catch up with western rivals, sources said.
☆ SK Hynix secures one-year waiver from U.S. govt on chip equipment for its facilities in China
  + stars: | 2022-10-12 | by ( ) www.reuters.com   time to read: 1 min
SEOUL, Oct 12 (Reuters) - South Korea's SK Hynix Inc (000660.KS) said on Wednesday it has received authorization from the U.S. Department of Commerce to receive chip equipment needed for its chip production facilities in China for one year, without seeking additional licensing requirements. Register now for FREE unlimited access to Reuters.com RegisterReporting by Heekyong Yang and Jane Lanhee Lee; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.
☆ Exclusive: KLA to stop sales and service to China to comply with U.S. export curbs
  + stars: | 2022-10-11 | by ( Josh Horwitz | ) www.reuters.com   time to read: +4 min
The move underscores huge business headwinds facing chipmakers and chip equipment makers around the world, as the Biden administration published a sweeping set of export controls on Friday aimed at slowing China's progress in advanced chip manufacturing. The source added that the company would also cease supplying China chip plants owned by Intel (INTC.O) and SK Hynix, the world's second-largest memory chipmaker. SK Hynix reiterated its stance that it would seek a license under new U.S. export control rules for equipment to keep operating its factories in China. Another source at an overseas chip equipment company told Reuters that all of the major suppliers to fabs were working round-the-clock to assess the long-term impact of the regulations. Shares in KLA tumbled nearly 5% on Monday, hit by the latest U.S. export control measures.
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