Recently, the semiconductor storage sector in US stocks has exhibited a pattern of intense, wide-range volatility. Earlier, driven by hard demand such as AI infrastructure construction and high-bandwidth memory (HBM), the industry saw a clear cyclical upswing and valuation reset. However, with the start of the second half and the accumulation of profit-taking, the market has diverged over issues such as overly rapid supply chain expansion, chip pricing inflation (Memflation), and the pace of non-AI downstream demand recovery. The tug-of-war between longs and shorts has led to amplified volume fluctuations in stock prices on a technical level. Overall, the current trend remains closely tied to expectations of the industry's supply-demand cycle transition and capital rotation within the tech sector.