Analyst: Micron's earnings boost overall market sentiment in the tech sector

Odaily reported that Chris Strazzeri, financial trading manager at Moomoo's Australia and New Zealand division, said targeted selling indicates that investors are enforcing strict valuation discipline after sustained rallies in AI-related and speculative growth stocks. This serves as a warning to the market that actual profitability must now improve to support currently overvalued price-to-earnings ratios. Micron Technology's earnings report released after the bell largely confirmed this, boosting overall market sentiment in the tech sector.