SK Hynix ADR Surges Over 8% Overnight: Wall Street Bullish, Quiet Period Ends Fueling Buyback Expectations

Overnight U.S. memory stocks surged: SK Hynix ADR jumped 8.17% to $154.38, Philadelphia Semiconductor Index soared 6.6% for a fourth straight gain, erasing July's 20.6% plunge. At least six Wall Street banks initiated coverage with Buy ratings, top target $320; the 25-day quiet period ended Aug 4, boosting buyback expectations; Seoul shares spiked nearly 8%. This article dissects Wall Street's bullish logic.