Korean Chip Stocks Are Trading Like The AI Bubble Has Burst. Is Micron Next?

1 month ago 8

Danielle Liverance

Tue, July 14, 2026 astatine 7:07 AM CDT 5 min read

Quick Read

MU fell 5% Monday but remains up ~243% year-to-date, with 40 expert bargain ratings and a statement terms people adjacent $1,486.
AMD and Lam Research each fell implicit 4% arsenic SK Hynix's HBM pricing chopped dragged the full representation and spot instrumentality analyzable lower.
Micron CEO Mehrotra sold shares crossed 40 transactions adjacent $1,128 to $1,192, portion prediction markets divided 50/50 betwixt $840 and $1,320.
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Something broke successful Seoul, and the tremor reached Wall Street connected Monday. South Korea's KOSPI has fallen astir 25% from its June peak, and Korean equities plunged much than 20% successful a azygous session, its worst time this month. SK Hynix, the crown jewel of the AI representation trade, had its worst time successful Seoul and saw its Nasdaq shares tumble. The trigger was astir mundane: a South Korean brokerage trimmed its second-quarter nett estimation for SK Hynix, citing reliance connected fixed-price high-bandwidth representation contracts and slower-than-expected HBM4 shipments. Is Micron next?

A antheral with graying hair, wearing a bluish button-up shirt, sits astatine a woody table, intently looking astatine a achromatic tablet. He holds a achromatic stylus successful his close hand, pointing it astatine the tablet surface which displays charts and news. His near manus is resting adjacent his chin, suggesting thought. A achromatic java cup, a stack of papers, and a metallic laptop are besides connected the table. A model successful the inheritance shows a blurred outdoor residential scene.

Micron Is Already Feeling It

Micron Technology (NASDAQ:MU) fell 5% Monday, from $979.30 to $930.32, dragged into the aforesaid downdraft that deed SanDisk (NASDAQ:SNDK) and Western Digital (NASDAQ:WDC) Seagate (down 5.2%), Lam Research (down 5.3%), AMD (down 4.3%), and Applied Materials (down 4.3%). When 1 representation maker's guidance wobbles, the analyzable trades arsenic a azygous organism. Even aft the slide, MU is up astir 9.82% implicit the past month, astir 243% twelvemonth to date, and astir 697% implicit the past year. That is simply a parabolic illustration taking a breather, which is precisely erstwhile the "bubble" question gets loudest.

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The Bull Case Hasn't Changed

The HBM pricing unit that spooked Korea is what Micron's bulls person been buying. TD Cowen reiterated a Buy this period with a $1,600 target, arguing a structural shortage of high-bandwidth representation persists beyond 2027. Micron has locked successful astir $22 cardinal successful lawsuit commitments done multi-year agreements with take-or-pay clauses and pricing floors, and has committed $250 cardinal to US manufacturing and R&D. CEO Sanjay Mehrotra frames these Strategic Customer Agreements arsenic a mode to "significantly heighten the durability and predictability of Micron's beardown fiscal performance." Analyst statement sits astir $1,486, with 9 beardown buys and 31 buys against a azygous beardown sell.

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