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SK Hynix Reignites the AI Infrastructure Trade, While Other Good Earnings Get Sold
After only two strong days, with today the third if it holds, the spooky stretch from last week already feels like a different market. SK Hynix just posted the kind of memory numbers that remind you the AI build-out is not slowing down, with operating profit up more than 600 percent year over year and guidance that memory demand outpaces supply for years. Suddenly, overnight, the whole AI infrastructure trade ripped higher. The SMH and SOXX were kissing their 200-day only yesterday, and now they are sitting comfortably above it, with the Nasdaq 100 back within reach of all-time highs.
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