[EQUITIES] Mirae Asset projects 11% profit growth for SK hynix in Q3

[THE INVESTOR]  Mirae Asset Securites on Aug.30 forecast SK hynix’s operating profit to grow 11 percent on-year in the third quarter based on stable DRAM supplies.

“SK hynix’s third-quarter operating profit is expected to reach 503.7 billion won (US$446.93 million) after rising 11 percent on a downturn in DRAM supply growth,” Mirae Asset said.

Falling supplies, coupled with steady demand, is fueling earnings for chipmakers. In 2017, industry trackers predict DRAM demand to grow 23 percent compared to this year. 

Mirae Asset said SK hynix’s earnings growth would likely continue into the fourth quarter, predicting that in 2017, operating profit will increase 35 percent to 2.7 trillion won.

By Kim Ji-hyun (jemmie@heraldcorp.com)