South Korea-based SK Hynix (HXSCL) jumped 6% to fresh all-time highs on Tuesday as strong optimism around AI-driven demand lifted global chip stocks. Adding to the positive sentiment, SanDisk (SNDK) is set to join the Nasdaq-100 (NDX), further boosting confidence in the memory and storage sector. Notably, SNDK will join the Nasdaq-100 before the market opens on April 20, replacing Atlassian (TEAM).
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New trading tool for NVDA bearsFor context, SK Hynix is a leading global chipmaker specializing in memory products like DRAM and NAND, widely used in data centers, smartphones, and AI systems. Its performance is closely tied to U.S. tech stocks, as it supplies key components to Apple (AAPL), Nvidia (NVDA), and more, making it a key beneficiary of AI-driven demand.
Why SK Hynix Stock Reached New Highs
AI memory remains one of the market’s favorite themes right now, which helps explain why SK Hynix is hitting new highs. In simple terms, the market is rewarding companies that are critical to AI infrastructure, and memory remains one of the most important and supply-constrained parts of that chain.
The company is seen as a key player in the AI boom because it makes high-bandwidth memory (HBM), an essential part of AI systems. Demand for this type of memory is growing faster than supply, which is keeping prices strong. This matters because investors are focusing on areas of the chip industry where supply is limited, and companies have strong pricing power.
Reflecting this trend, analysts at Korea Investment & Securities raised their full-year profit forecast for SK Hynix by 28%, citing stronger-than-expected pricing for DRAM and NAND.
Why Sandisk Index Inclusion Matters
The news that SanDisk will join the Nasdaq-100 helped lift SK Hynix by boosting confidence across the memory and storage sector. SanDisk’s inclusion signals strong demand, and the positive sentiment spilled over to peers like SK Hynix as investors bought related stocks. Index additions also tend to bring in institutional inflows, further supporting the sector.
At the same time, SK Hynix and SanDisk are working together to develop High Bandwidth Flash (HBF), a new memory layer designed to complement HBM and improve efficiency for AI workloads. This collaboration aims to address performance and capacity gaps in AI systems, positioning both companies to benefit from the next wave of data center and AI-driven demand.
Which Memory Stock Is the Better Buy, According to Analysts?
For U.S. investors, SK Hynix shares are not directly listed on major American exchanges. However, investors can look at and compare U.S.-listed memory stocks to find similar opportunities.
Using TipRanks Stock Comparison tool, we have compared leading memory stocks. Among these, MU stock offers the highest upside of 27% with a Strong Buy rating from analysts.
