Hwang's Speech Fails to Boost Sentiment as Micron Struggles, US Stock Storage Sector Up in Pre-market, 92% of Institutional Analysts Still Maintain Buy Rating on MU

BlockBeats News, June 8th, NVIDIA CEO Jensen Huang today commented on last Friday's collective plunge of AI concept stocks during an event, stating: "We are at the beginning of the AI revolution. Whatever happens in the stock market, you should be happy because you can now finally buy high-quality assets at a discount." Huang emphasized that the infrastructure for artificial intelligence is just starting to take shape, and the short-term market volatility is merely a "discount coupon" for those with long-term strategies.

However, this optimistic statement did not immediately boost the South Korean storage giant SK Hynix. Influenced by the global sell-off of tech stocks, SK Hynix plummeted nearly 10% after the opening of the Korean stock market today, ultimately closing down approximately 7.68% at 1,911,000 Korean Won, continuing the adjustment pressure in the AI memory sector.

On the US stock side, the situation is relatively optimistic. In pre-market trading, STX rose by 2.53%, WDC rose by 2.67%, SNDK rose by 2.62%, and MU rose by 4.2%.

On the other hand, Raymond James financial analyst Kal Ackerman presented a completely different view. In his latest research report, he clearly stated, "We expect the average selling prices of DRAM and NAND to peak in mid-2026." The average prices of these two types of chips could experience consecutive quarterly declines as early as the beginning of next year.

Ackerman indicated that the pressure to cap prices comes from both the supply and demand sides. On the supply side, the rise of Chinese manufacturers cannot be ignored. ChangXin Memory and Yangtze Memory are actively expanding production. On the demand side, while AI servers drive up memory purchases, they also lead to a decrease in purchasing willingness in other end markets.

However, based on long-term pricing agreements, this impact should be mitigated. Ackerman still maintains a "outperform the market" rating for Micron. From a valuation perspective, the market has quietly adjusted expectations. According to FactSet data, Micron's forward P/E ratio has surged from 4.4 times in April of this year to the current 11.7 times. Ackerman believes that this valuation level already implies the market's advance pricing for slowing contract price growth, declining gross margins, and excess capacity over the next one to two years.

Overall, according to CNN Markets data, approximately 50 institutional analysts still maintain a 92% Buy or Strong Buy rating for MU, with only 6% Hold and 2% giving a "Sell" rating.