SK Hynix US listing process begins; Broadcom to supply Apple chips
SK Hynix shares fell after starting the formal marketing for its US listing, while Broadcom shares dipped on news of a custom chip deal with Apple through 2031.
Shares of SK Hynix fell in Korean trading after the chipmaker began the formal marketing process for its US listing, while Broadcom shares dipped on news of an expanded custom chip deal with Apple.
SK Hynix (000660 KS) declined after the company kicked off the marketing process for its US listing on Friday. The company is seeking to sell American depositary receipts representing about 17.79 million common shares. The move marks a significant step for the South Korean memory chip giant as it looks to tap deeper into US capital markets. Investors are watching the offering closely, as it could set a benchmark for other Asian tech firms considering US listings.
Broadcom (AVGO) shares moved lower ahead of the US market open after the company announced it will provide custom chips for Apple Inc. (AAPL) in an expanded deal that runs through 2031. The companies have signed a new multi-year agreement, through which Broadcom will develop custom ASIC chips. This deal underscores Broadcom's growing role in Apple's supply chain, but the initial market reaction suggests some investors may have priced in even more favorable terms. For equity traders, the news highlights the ongoing consolidation in the semiconductor supply chain, where custom chip deals are becoming a key growth driver. Check NowPrice's stocks page for real-time pricing on AVGO and AAPL.
Looking ahead, market participants will focus on the pricing and demand for SK Hynix's US listing, which could provide clues about investor appetite for Asian tech IPOs. For Broadcom, the Apple deal's long-term revenue implications will be scrutinized in upcoming earnings calls. Additionally, broader market sentiment will be influenced by macroeconomic data and central bank policy signals later this week.