Serenity: This pullback clearly looks like a buying opportunity, favoring Micron, Intel, and TSMC

Odaily Odaily reports that Serenity stated, "For me personally, this pullback looks like a clear buying opportunity, with targets including Micron Technology (MU), Intel (INTC), and TSMC (TSM).

This decline is primarily driven by some flimsy narratives, such as market rumors of three Fed rate hikes within the year, but there is actually no new macroeconomic data supporting this claim (the real data won't be released until Thursday).

If institutions truly believed in the bearish logic of three rate hikes, similar to what Bank of America (BofA) proposed, they should have been arbitraging via CME futures or prediction markets. However, the reality is that these markets still show around a 74% probability of no rate hike in July, without reflecting the supposed aggressive tightening expectations."