On July 9, Micron Technology rose 3.09% overnight, trading at $975.5/share, with turnover of $101 million.

On the news front, Bank of America Securities released its latest report characterizing the semiconductor sector's recent pullback as a \"healthy correction\" rather than a structural reversal, reaffirming its \"Buy\" rating on Micron Technology with a target price of $1,550. The report noted that memory chips currently trade at only 10x earnings, which it views as significantly undervalued. Bank of America projects global cloud and AI infrastructure capital expenditure will approach $1.5 trillion by 2027, representing a 40-50% increase from current levels, underpinning sustained demand for memory products.

Previously, Micron and SanDisk had each declined over 20% from recent highs, technically entering bear market territory, driven by concerns over supply-demand imbalance following Samsung's Q2 profit surge and heavy insider selling. After two consecutive sessions of sharp declines, bargain-hunting flows emerged alongside the institutional bullish signal, supporting a stabilization rebound in the storage sector.

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