If you only look at the short term, the storage sector looks like a noisy cyclical industry: it rises fast and falls just as quickly. But lately I’ve been increasingly feeling that it’s no longer just a simple “storage replenishment inventory” story—it’s being repriced by AI. In Micron’s fiscal Q3 2026 earnings report released on June 24, revenue reached $41.46 billion, and management’s comments were also very direct: the strategic value of memory in the AI era has become even more important.