SK Hynix Inc.’s shares slid after record quarterly results failed to impress investors grappling with stagnant smartphone demand and questions about AI spending in 2025.

The South Korean memory-chip maker reported record quarterly and annual results after stronger-than-expected earnings for the final quarter of 2024 on robust chip demand.

SK Hynix Inc (KS:000660), a key Nvidia supplier, reported a record fourth-quarter operating profit, soaring 2,236% to 8.08 trillion won ($5.64 billion), slightly exceeding Reuters forecast of 8 trillion won.

Nvidia (NASDAQ: NVDA) and Apple (NASDAQ: AAPL) are the two largest companies in the world by market capitalization. While Nvidia is valued at roughly $3.38 trillion as of this writing and stands as the second-biggest business,

Now that it's the world's most valuable company, some investors might believe the time to buy Nvidia has already passed, but these developments show that's not the case. Furthermore, the stock is currently selling for just 32 times next year's expected sales, a remarkably attractive price for a company with so much opportunity.

Nvidia is once again the most valuable U.S. company, outranking Apple for the first time since late November. The chip maker ended Tuesday with a market capitalization of $3.449 trillion, according to Dow Jones Market Data.

Netflix stock soars after strong subscriber gains, Oracle teams with OpenAI and SoftBank in a $500 billion AI infrastructure partnership, and Johnson & Johnson falls after mixed guidance.