Memory-related stocks opened sharply higher in Hong Kong trading. At the time of writing, the Samsung Electronics 2x Long ETF (07747) surged 10.28% to HK$198. The SK Hynix 2x Long ETF (07709) jumped 8.64% to HK$167.3. Montage Tech (06809) rose 7.16% to HK$461, while GIGADEVICE (03986) advanced 5.93% to HK$1,045.

The rally was fueled by Micron Technology's latest earnings report, which significantly exceeded market expectations. For the fiscal third quarter of 2026, the company reported revenue of $41.46 billion, a massive year-over-year increase of 346%, with a remarkable gross margin of 84.9%. Furthermore, Micron Technology's guidance for the fourth fiscal quarter also surpassed forecasts, with adjusted revenue projected between $49 billion and $51 billion, well above the consensus estimate of $43.24 billion.

During the earnings call, Micron Technology CEO Sanjay Mehrotra stated, "We expect the supply-demand tightness to persist beyond calendar 2027, driven by AI demand across the entire ecosystem combined with structural supply constraints."

In related news, on June 24th, SK Hynix disclosed plans to issue depositary receipts worth up to KRW 45.45 trillion, with trading expected to commence on the U.S. Nasdaq exchange on July 10th. The company indicated it would use the proceeds to build a wafer fabrication plant in South Korea and for the procurement of EUV lithography equipment.

Analysts note that AI demand is boosting memory requirements. With overseas original equipment manufacturers focusing on high-value server products, the spillover of demand and the push for domestic supply are creating opportunities for local firms in the enterprise segment and for increased penetration with smartphone brands. As the industry supply chain undergoes restructuring, domestic memory manufacturers are positioned to enter a positive cycle during this upturn, characterized by profit growth, accelerated customer adoption, and product portfolio upgrades.