Elon Musk Just Uttered 3 Massively Bullish Words for Micron, Sandisk, and SK Hynix
Musk recently highlighted memory as the single biggest determinant of AI success.
Overview
It has been a historic period for memory and storage stocks. Once relegated to a bucket of lowly valued "commodity" stocks, the agentic AI revolution has spurred an absolutely massive increase in memory and storage demand.
Not only has demand increased, but the technology has also evolved from an interchangeable commodity to a strategic enabler for AI systems. The agentic era has therefore spurred massive stock price increases for memory and storage giants Micron (NASDAQ: MU), SK Hynix (NASDAQ: SKHY), and Sandisk (NASDAQ: SNDK).
Details
However, those huge gains gave way to a big pullback in July because of profit-taking, fears of more efficient models from China, short-seller skepticism, and the "blow-up" of the AI-focused hedge fund Situational Awareness. Even after a bounce back in August, these stocks remain 15% to 30% below their June highs.
Source
Originally published at www.fool.com.