South Korea's SK Hynix to buy Intel's NAND business for $9 billion

SK Hynix shares rose as much as 4.8% immediately after the news before reversing gear to fall 1.5%, compared to a flat wider market“For the short-term, the deal would be a financial burden on SK Hynix, which is expected to continue to post losses in its NAND business, dogged by oversupply,” said Park Sung-soon, an analyst at Cape Investment & Securities.

Intel’s factory in Dalian makes chips that compete in the cut-throat commodity memory business where prices cycle through booms and bust that can eat profits. Intel said it intended to invest the proceeds of the transaction to deliver leadership products and advance its long-term growth priorities, including artificial intelligence and 5G networking.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

My father-in-law’s business went south and my mother-in-law has never worked a day in her life. How can I avoid supporting them?Dear Moneyist, My in-laws have made poor financial decisions. My husband and I haven't. Is it wrong that I don't feel the need to support them? Our culture wants you to support the homeless, build a wall around your financial future You don't put eater in a bucket that has a hole I it. Never give financially irresponsible people more money. I would sell them to a chinese sweatshop
Source: MarketWatch - 🏆 3. / 97 Read more »