During Monday's trading session, the three major US stock indices showed mixed performance, with the technology sector under clear pressure. As of 11:13 AM Eastern Time, the Nasdaq Composite was down 0.84% at 26,060.14 points, showing the weakest performance; the S&P 500 index fell 0.35% to 7,548.77 points; the Dow Jones Industrial Average held up relatively well, edging down just 0.16% to 52,552.13 points. Chip stocks were a primary factor dragging down the broader market, with NVIDIA, Micron Technology, and SanDisk all experiencing varying degrees of decline at the market open.

This round of selling is influenced by multiple overlapping factors. On one hand, SK Hynix, which surged 13% on its Nasdaq debut last Friday, plunged over 15% in the South Korean market today, dragging down the entire memory chip sector. Market observers noted that SK Hynix and Micron Technology are both major suppliers of High Bandwidth Memory (HBM), and investors often view them in tandem, causing the selling sentiment to quickly spread to stocks like Micron Technology.

On the other hand, escalating geopolitical tensions in the Middle East have further intensified market risk aversion. Over the weekend, the US and Iran exchanged attacks again, with Iran announcing the closure of the Strait of Hormuz. Brent crude oil futures jumped over 4% to above $78 per barrel. The surge in oil prices has reignited market concerns about inflation, posing additional pressure on high-valuation technology and growth stocks.

Despite the short-term pressure, Wall Street maintains a positive view on most leading chip companies. According to analyst rating data, NVIDIA, Micron Technology, SanDisk, and Advanced Micro Devices all hold a consensus rating of "Strong Buy." Among these, Micron Technology has the highest expected upside potential at 59.7%, followed by NVIDIA at 46.6%.