The long-term demand logic for chip stocks (AI-driven) remains intact, but medium-to-short-term macro headwinds (geopolitics, oil price volatility, profit-taking) are suppressing valuations.

The disconnect between fundamentals and expectations.

Revenue and operating profit still fell short of the market's most optimistic expectations.

trade.xyz to Fully Compensate Losses from Liquidations Caused by SKHYNIX Price Anomaly

Can you save me one more time, Uncle Hynix?

This week, Microsoft, Meta, Apple, and Amazon will report their earnings. The market's focus is on whether AI spending can drive revenue and profit growth, and to examine the effectiveness of capital expenditures. Simultaneously, the Fed's interest rate decision will impact tech stock valuations, making earnings and policy direction the center of market attention.

Once CXMT obtains stable domestic production expansion tools, DRAM supply will inevitably increase. The impact on Samsung and SK Hynix won't just be on next quarter's profit figures, but on the long-term premium for "scarcity + pricing power" that supports their market capitalizations.

The current competition is not for today's marginal revenue, but to see which company can be the first to control the fund flow data of the agent economy over the next five to ten years once it fully matures.

A closed loop of "borrowing money to buy chips, selling chips to repay debt" is being rejected by the bond market. The Korea KOSPI index circuit-breaker triggered for the 8th time this year, wiping out 320,000 retail investor accounts. Meanwhile, Apple has reclaimed the title of the world's most valuable company by market cap with the lowest capital expenditure. This is not just a fluctuation in individual stocks; it marks the end of the underlying assumption that "capital is forever cheap."

While Alphabet and Tesla faced stock price declines after increasing spending and reporting earnings, Apple’s "capital discipline" has instead earned it a certainty premium, propelling it back to the top of the throne.

The credit market begins to ask who is backing the expansion of AI infrastructure.

Several listed companies have abandoned their Bitcoin reserve strategies, with plunging stock prices forcing strategic adjustments.

Morgan Stanley Bullish on SpaceX: $100 Means the Market Puts AI Business Value at Zero. Rocket + Starlink Operations Alone Are Enough to Cover the Current Stock Price, Making the AI Option Value Nearly "Free."

What needs the most urgent fixing in the first half of 2026 is not a specific contract, but people and processes themselves.

Most institutions still believe that Micron, SK Hynix, and Samsung's leading advantages in AI memory are difficult to challenge in the short term. Some analysts suggest that the pullback in memory chip stocks offers new opportunities for positioning.

Strategy conducts first buyback of 288,900 STRC shares for $25 million.