The surge in memory chip stocks is intensifying further. As investors bet that the AI boom will drive a sustained revaluation across the industry, the market capitalizations of SK Hynix and Micron Technology have surpassed $1 trillion for the first time.
On Wednesday, SK Hynix rose 9.3% in the South Korean stock market, accumulating gains of over 1000% in the past 12 months, becoming the third Asian company after Samsung Electronics to join the "trillion-dollar club." Micron Technology surged 19% overnight, marking its largest single-day gain since 2011, after an analyst from UBS Group stated that the stock could double within the next year.
Currently, the three major high-bandwidth memory (HBM) manufacturers are positioned at a critical choke point in global AI infrastructure. Their products have become core bottlenecks in data center expansion. Investors and analysts expect the memory shortage to persist until 2027, granting these manufacturers rare pricing power when dealing with the world's largest technology companies.
Despite the heightened market sentiment, some analysts remain concerned that this rally may not be sustainable. The current market trend is built on the assumption that profits will grow at a staggering pace; once supply bottlenecks ease or AI capital expenditure slows, stock prices could reverse.
Just as this report was being prepared, Iran delivered a significant positive development.
According to Iranian sources, a "preliminary informal document" related to the framework of a memorandum of understanding between Iran and the United States has been disclosed, addressing issues concerning the Strait of Hormuz, regional military deployments, and future agreement arrangements. According to the document, the United States has committed to lifting the "maritime blockade" against Iran and withdrawing some military forces deployed in areas surrounding Iran. In exchange, Iran will gradually restore commercial vessel traffic through the Strait of Hormuz to pre-escalation levels within one month, excluding military vessels. The management of vessel passage and route arrangements will be coordinated jointly by Iran and Oman. The document indicates that if Iran and the United States can reach a final agreement within 60 days, the relevant content may be confirmed in the form of a binding United Nations Security Council resolution. It is reported that Iran has emphasized that it will not take any practical action until "verifiable" inspections are completed.
Following the news, crude oil prices plummeted sharply, while global stock markets surged.