Indexes Fall, Memory Stocks Surge — What's Driving This Rotation?
The S&P fell 0.38% on Friday; memory rallied anyway: SanDisk +11.90%, SOXL +9.87%, SK Hynix +8.14%, Micron +6.10%. The engine changed: not pricing but mechanics. SanDisk replaces Nike in the S&P 100, forcing passive inflows; SK Hynix's new Nasdaq DRs pulled Korean buying, Korean stocks +5.65% on record AI-chip exports. Micron is above $1,000, up 2.5x YTD; its September 30 results are the first demand check. Bears cite valuation, which amplifies any miss, and production: the strike threat at Micron's biggest Taiwan plant. Ride the passive-inflow window, or wait for Micron's lines and demand?
Comments