#夏日创作营 U.S. stock market indexes came under pressure and adjusted intraday, while semiconductor memory surged against the trend—strong across the board!

On Thursday’s intraday session in the U.S., the market’s sense of division became even more pronounced. Pressure stood out at the broad-market level, with the Nasdaq index staying green. Hit by negative news, Tesla fell more than 12%, Google dropped 6.5% due to the EU’s massive anti-monopoly fine, and the two major weight stocks clearly suppressed market sentiment; Nvidia pulled back slightly and entered a period of consolidation and rest in the near term.
However, in an environment where the index weakened, the semiconductor sector broke out against the trend and became the standout highlight of the whole session. Memory leaders gained across the board: SK hynix surged 6.21%, Micron Technology rose 3.67%, and SanDisk closed higher in sync; Lumentum, a company in optical-communication semiconductor, saw its gain approach 5%. When the broader market adjusted, funds actively clustered into semiconductors, which fully shows that the sector’s favorable-cycle logic has been recognized by mainstream capital. This round of overseas semiconductor memory gains is not mere sentiment speculation, but has solid industrial support. Previously, SK hynix, Micron, and Samsung have continued to execute production cuts and inventory reduction strategies, effectively improving the supply-demand landscape, with spot prices of memory chips gradually stabilizing and rebounding. Meanwhile, AI compute power continues to expand, and demand for high-capacity server storage is steadily being released; the market has begun to price in a recovery in earnings for memory companies in advance.
U.S. stock market indexes came under pressure and adjusted intraday, while semiconductor memory surged against the trend across the board

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Aze looks at the cycle
Aze looks at the cycle

Aze looks at the cycle

July 23, 2026 22:10
Guangdong

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U.S. stock market indexes came under pressure and adjusted intraday, while the market’s sense of division became even more pronounced. Pressure stood out at the broad-market level, with the Nasdaq index staying green. Hit by negative news, Tesla fell more than 12%, Google dropped 6.5% due to the EU’s massive anti-monopoly fine, and the two major weight stocks clearly suppressed market sentiment; Nvidia pulled back slightly and entered a period of consolidation and rest in the near term. However, in an environment where the index weakened, the semiconductor sector broke out against the trend and became the core highlight of the whole session. Memory leaders gained across the board: SK hynix surged 6.21%, Micron Technology rose 3.67%, and SanDisk closed higher in sync; Lumentum, an optical-communication semiconductor company, saw its gain approach 5%. When the broader market adjusted, funds actively clustered into semiconductors, fully indicating that the sector’s favorable-cycle logic has been recognized by mainstream capital. This round of overseas semiconductor memory gains is not mere sentiment speculation, but has solid industrial support. Previously, SK hynix, Micron, and Samsung have continued to execute production cuts and inventory reduction strategies, effectively improving the supply-demand landscape, with spot prices of memory chips gradually stabilizing and rebounding. Meanwhile, AI compute power continues to expand, demand for high-capacity server storage is steadily being released, and the market has begun to price in a recovery in earnings for memory companies in advance.

Key capital-direction signals revealed by the market
1、Capital style switch: avoiding high-level “big-name” stocks affected by negative headlines, and instead positioning for a cyclical reversal. In recent times, Tesla and Google have repeatedly run into negative news, so capital has started to avoid large platform companies with uncertainties, while funds have continued to flow into the semiconductor cycle sector, where fundamentals are seeing a turning point. Sentiment and valuation/momentum, becoming the most important metric for stock selection in the overseas market right now.
2、The storage market is shifting from short-term impulse to trend-based positioning. In the past several trading days, whenever the U.S. stock market indexes show adjustments, semiconductor memory has repeatedly held up against declines and continued to rally. The representative “inflow” capital is not just short-term speculators; many medium- to long-term funds have continued to position for opportunities of semiconductor-cycle recovery.

Continuously track two key indicators next
1、Whether overseas memory leaders can hold their intraday gains; if strength persists into the close, it will further boost the sector sentiment next week;
2、The trend of spot memory quotations. Only when prices keep warming up is the most core foundation for the continuation of the semiconductor memory rally.

This article is for interpreting market dynamics and industrial logic only, and does not constitute any investment advice.$SNDK ‌