On July 2nd, shares related to the memory chip concept in the Hong Kong stock market saw their afternoon losses deepen significantly. The CSOP Samsung Electronics Daily (2x) Leveraged Product plummeted nearly 30%, while the CSOP SK Hynix Daily (2x) Leveraged Product fell over 28%. GigaDevice Semiconductor (Beijing) Inc. shares dropped more than 18%, and Montage Technology Co., Ltd. shares declined over 16%.

Morgan Stanley's Chief Equity Strategist, Mike Wilson, issued a warning: price momentum for semiconductor stocks is approaching historical extremes. Their trajectory bears a striking resemblance to that of silver stocks earlier this year, which fizzled out rapidly after a brief surge. He suggests this momentum may have already reached its "peak," and a more sustainable, broad-based market trend is poised to take over as the dominant force.