Investors return to tech stocks as Micron earnings loom - mezha.net

As earnings season approaches, investors are returning to tech stocks, particularly chip stocks, ahead of key reports such as Micron’s upcoming earnings. On June 24, S&P 500 and Nasdaq futures rebound... Read original →

The pre-earnings rally in Micron reflects AI infrastructure capex shifting from GPUs to memory bottlenecks. Surging HBM3E and GDDR7 demand is accelerating DRAM migration to 1β/1γ nodes, with TSMC’s CoWoS shortages now spilling into memory packaging. Geopolitically, U.S. export controls force Micron to restrict its Taiwan, China fabs to domestic clients only, inflating global supply chain redundancy costs. With SK Hynix commanding over 60% HBM market share, Micron risks missing the AI server window if it fails to mass-produce 1α-node HBM4 by late 2026. Over the next 12 months, custom AI chipmakers like Cerebras will intensify structural substitution via in-memory compute architectures—this rally isn’t a cyclical rebound but the final dividend before a generational tech shift.