[Edaily Reporter Kim Kyung-eun ] SK hynix(000660)hit an all-time high, surpassing 3 million won in pre-market trading.

According to Nextrade on the 23rd, SK hynix was trading at 2.97 million won as of 8:15 a.m. that day, up 1.75% from the previous trading day. It briefly soared to 3,002,000 won during pre-market trading.

SK hynix surpassed SamsungElectronics(005930)the previous day to claim the top spot in market capitalization on the KOSPI. Based on the closing price, SK hynix’s market capitalization stands at 2,080.3782 trillion won. SamsungElectronics’ common stock market capitalization was recorded at 2,066.6595 trillion won.

This reversal is interpreted as a result of shifts in the semiconductor industry landscape driven by expanded investment in artificial intelligence (AI). This is because SK hynix has secured a leading position in the AI memory market by supplying High Bandwidth Memory (HBM) to major clients such as NVIDIA.

Anticipation surrounding the listing of American Depositary Receipts (ADRs) is also boosting investor sentiment. The market expects a Nasdaq listing as early as next month.

With the second-quarter earnings season approaching in July, the possibility of further gains is also being discussed.

Park Jun-young, an analyst at HANWHA INVESTMENT & SECURITIES, said, “SK hynix’s 12-month forward price-to-earnings ratio (PER) stands at 6.6x, which remains low compared to global semiconductor companies,” adding, “Earnings stability is improving based on long-term supply contracts for HBM.”