SK Hynix Overtakes Samsung to Become South Korea’s Most Valuable Company
SK Hynix market cap briefly exceeded Samsung Electronics on Monday, June 22, ending a reign that stretched again to 2000 and marking one of the dramatic reversals in Korean company historical past.
The new market cap high places the South Korean firm above the likes of Berkshire Hathaway, Eli Lilly, and Walmart. It can be now larger than Bitcoin.
From Near-Bankruptcy to No. 1
As of 03:47 GMT, June 22, SK Hynix’s market capitalization reached 2,082.5 trillion gained ($1.35 trillion), edging previous Samsung Electronics’ 2081.3 trillion gained. The hole is slim, however it’s a important transfer. Samsung had held the highest spot on the Korea Composite Stock Price Index (KOSPI) with out interruption since November 2000.
The turnaround is all of the extra putting on condition that SK Hynix was close to collapse in 2002, when a debt-laden Hynix Semiconductor nearly sold itself to Micron. Its shares fell as little as 135 gained in 2003.
As BeInCrypto reported on the KOSPI rally, Korean retail buyers have been rotating aggressively into chip shares this 12 months.
AI Boom is Boosting New Powerhouses
The reversal displays two very completely different trajectories this 12 months. SK Hynix shares are up roughly 345% year-to-date, whereas Samsung has gained around 194%.
SK Hynix advantages from its near-total give attention to reminiscence chips, notably high-bandwidth reminiscence (HBM) utilized in AI methods, contrasting with Samsung’s diversified enterprise throughout logic chips and shopper electronics.
The milestone additionally places SK Hynix forward of Bitcoin (BTC), whose market cap sits at roughly $1.29 trillion, making the chipmaker a bigger asset by worth than the world’s main cryptocurrency.
“The emergence of customised AI reminiscence basically modified the trade’s economics and allowed SK Hynix to set up itself because the market chief,” mentioned Kim Sunwoo, senior analyst at Meritz Securities, by way of Reuters.
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