#美光涨超12% 7.21 Semiconductor Insights

The semiconductor sector’s recent swings have been like a roller coaster, but overall, after this month’s more than 20% sharp pullback in tech stocks and memory chips, these past two days are now seeing a strong oversold rebound.

1、 US stocks last night: the broader market is just along for the ride, while memory chips launch straight up
Last night (July 21), the three major US stock indexes traded roughly around the flat line, as the market waited for today’s (22nd) earnings reports from Google Alphabet and Tesla after the close.
The Nasdaq fell 0.05% to 25,508.07; the S&P 500 slipped 0.2% to 7,443.28.
But semiconductor and memory individual stocks were the absolute stars last night, with extremely aggressive bargain-hunting inflows.
Micron Technology (MU) went completely wild last night: surged +12.17% (up $105.36), closing at $970.82, with total trading volume nearing 50 million shares for the day. Earlier in mid-July, Micron was smashed down nearly 30% due to concerns about AI spending peaking. This rebound last night basically signaled short-sellers taking profits, while longs started moving aggressively to reclaim lost ground.

2、 Korean stocks this morning: volatility even higher than Bitcoin, the fight after a new king takes the throne
Today (July 22), the South Korean KOSPI index saw extremely violent intraday swings. Recently, because of the semiconductor sector’s blowout surge and crash, volatility in the Korean stock market even exceeded Bitcoin, frequently triggering the circuit breaker mechanism (sidecars). But this morning, the bulls are in control, and the index is working hard to reclaim the 7,000-point level.
Big background event (must know): In this 2026 wave of AI hype, SK Hynix officially surpassed Samsung Electronics, taking the historic top spot for the largest market value in South Korea! This is mainly because Hynix has absolute dominance in AI high-bandwidth memory (HBM). Plus on July 10, Hynix raised $26.5 billion by issuing ADRs in the US (with over 7x oversubscription), making it the biggest show on the block. Samsung is under extreme pressure, and it’s said to be holding a big move and preparing to list in the US.
Individual-stock performance: After the panic from two weeks ago when Hynix plunged 11.5% in a single day and Samsung crashed 8%, today both giants are seeing a “revenge surge.” Hynix is consolidating around 2.9 million won, while Samsung is also stabilizing and rebounding. Fueled by the stimulus of Micron’s surge in the US, money is pouring into Korea’s memory “twin stars” today.

3、 Japanese stocks this morning: chip equipment giants lead the counterattack
Japan’s Tokyo market (Nikkei 225) also performed strongly this morning. A few days ago, the Nikkei briefly fell below 70,000 points, but last night’s big rally in US chip stocks gave Japanese stocks a shot of confidence.
Japan’s semiconductor equipment and materials stocks (such as Tokyo Electron, Advantest, etc.) led the charge higher this morning, with the Nikkei rebounding strongly by more than 3%.
The harder they were hit, the more violent the valuation repair has been over the past two days. Buyer institutions’ willingness to “pick up bargains” is very strong.

Summary
Semiconductor memory sector: it has basically completed a stage of bottoming out. Micron’s +12.17% jump last night already blew the starting whistle for the rebound. Now, the biggest profit split and remaining suspense for memory stocks depend on whether, in the earnings reports of tech giants like Google after today’s US market close, the guidance on AI capital expenditures remains strong. If the big players keep signing on, this rebound in Hynix, Micron, and Samsung can continue pushing higher. #夏日创作营