JPMorgan Overweight Call for SK Hynix as Memory Stocks Slip
SK Hynix fell 5% alongside 3% declines in Micron and Western Digital even after JPMorgan started SK Hynix with an Overweight rating and a $245 target. The Roundhill Memory ETF dropped 3% while the S&P 500 slipped 0.5%. Rising 10-year yields near 4.8% and oil above $100 weighed on sentiment, while Micron was also named among JPMorgan’s top picks.