SK Hynix profits miss target, tech stocks tumble

A disappointing earnings report from South Korean chip giant SK Hynix sent shockwaves through global markets on Thursday, sparking a broad sell-off in technology stocks. The company’s quarterly profit fell short of analyst expectations, raising fears that the red-hot memory chip market may be cooling. Despite the miss, SK Hynix insisted that the risk of a memory oversupply remains “limited.” The company cited strong demand for high-bandwidth memory chips used in artificial intelligence applications. However, investors remained skeptical, pushing shares down and dragging down other chipmakers and tech firms. The rout highlights growing uncertainty about the sustainability of the AI-driven boom that has lifted the semiconductor sector for months. Analysts now watch for further earnings reports to gauge whether the slowdown is temporary or the start of a broader trend.