SK Hynix beats forecasts with record quarterly profit, sees explosive memory chip demand

By Heekyong Yang and Hyunjoo Jin SEOUL, Jan 28 (Reuters) - South Korea's SK Hynix on Wednesday reported its quarterly profit more than doubled, hitting a record high and beating forecasts, and predicted ​that the artificial intelligence boom would sustain rapid growth in memory chip demand. The earnings beat plus ‌the announcement of its biggest ever share cancellation helped propel shares in the Nvidia supplier 9% higher in after-hours trading. SK Hynix shares ‌have risen about 30% so far this year. ...