SK Hynix announced a 28.7 billion dollar stock buyback program. The update sent shares of SK Hynix rising over 12 percent in Seoul. Following the announcement, JPMorgan recommended that investors pick up SKHY stock. JPMorgan cited predictions that sentiment will improve gradually. JPMorgan also pointed out that SK Hynix could deliver another 130 billion dollars to investor payouts.
Meanwhile, memory chip rivals Samsung and Micron face scrutiny as artificial intelligence deals and expansion plans develop around SK Hynix. Barron's looked into why Micron is not repurchasing stock like memory chip rivals SK Hynix and Samsung.