SK Hynix Warns of Weaker Memory Chip Demand, Impacting Micron and Nvidia Stocks; EA Down 15%, TSLA Down 0.5%, AAL Down 8.5%, GE Up 6%

SK Hynix, a major supplier to Nvidia and competitor to Micron Technology, has indicated a decline in demand for commodity memory chips. This downturn is attributed to economic uncertainty and increased competition from Chinese manufacturers. The warning from SK Hynix has implications for several key semiconductor companies, including Micron ($MU), Nvidia ($NVDA), ASML Holding ($ASML), Applied Materials ($AMAT), and Lam Research ($LRCX), which are expected to be negatively affected by the anticipated demand drop. In related market movements, Electronic Arts ($EA) reported a 15% decline after releasing soft preliminary third-quarter statistics, while Tesla ($TSLA) announced a 0.5% decrease in pre-market trading, alongside a price increase for all car models in Canada effective February 1. Other notable pre-market movers include American Airlines ($AAL), which saw an 8.5% drop due to an unexpected loss, and General Electric ($GE), which rose 6% after reporting earnings and revenue that exceeded expectations, alongside a 30% dividend increase and a $7 billion share buyback plan.