Key Nvidia Supplier SK Hynix Stock Drops Nearly 8% Following US Tech Sell-Off Despite Record Quarterly Profit Reveal
Portfolio Pulse from Benzinga Neuro
SK Hynix, a key supplier to Nvidia, reported its highest quarterly profit since 2018, driven by the demand for AI chips. Despite this, SK Hynix's stock dropped nearly 8% following a US tech sell-off, which also saw Nvidia's stock decrease by 6.8%.
July 25, 2024 | 2:28 am
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Nvidia's stock decreased by 6.8% following a broad sell-off in US tech stocks, despite positive news from its key supplier SK Hynix.
Nvidia's stock is likely to be negatively impacted in the short term due to the broader tech sell-off, despite positive earnings news from SK Hynix, a key supplier.
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