SK Hynix announced a 28.7 billion dollar stock buyback plan. The update sent shares of SK Hynix climbing over 12 percent in Seoul. Following the move, JPMorgan recommended that investors buy SKHY stock. JPMorgan cited predictions that sentiment will recover steadily. JPMorgan also noted that SK Hynix could add another 130 billion dollars to returns.
Meanwhile, memory chip rivals Samsung and Micron face scrutiny as artificial intelligence deals and expansion plans grow around SK Hynix. Barron's looked into why Micron is not buying back stock like memory chip rivals SK Hynix and Samsung.