The U.S. launched a fresh wave of strikes against Iran on Wednesday, targeting multiple sites, following a similar round of attacks a day earlier. U.S. forces hit air-defense and radar installations near the Strait of Hormuz, while Tehran responded by declaring the critical waterway closed to all maritime traffic.<\/p>\n
The benchmark S&P 500 declined 1.6% on Wednesday, and oil prices rose further, but U.S. stock futures were higher in Thursday\u2019s premarket session.<\/p>\n
Investor interest in memory and the broader semiconductor stock remains high as AI growth and a rapid pace of data center buildout drive stocks sharply higher.\u00a0<\/p>\n
MU stock has dipped about 18% from its peak last week, drawing investor interest. WDC, STX and SNDK stocks have had a similar dip, attracting fresh interest from investors looking to add exposure.<\/p>\n
SK Hynix To Triple Capacity<\/p>\n
Analysts and industry executives have consistently said that demand for memory chips is likely to remain strong for years. Reinforcing that view, South Korean memory giant SK Hynix said on Wednesday that it plans to triple its wafer capacity by 2034 to keep pace with surging demand, marking another bullish signal for the sector.<\/p>\n
Speaking to Nikkei, SK Group Chairman Chey Tae-won\u00a0said<\/a> the company expects its wafer capacity to double within five years and ultimately triple by around 2034 as it aggressively expands production. He added that demand is growing so rapidly that some industry observers already believe even that level of expansion may not be sufficient.<\/p>\n Retail, Analyst View On Memory Stocks<\/p>\n On Stocktwits, the retail sentiment was \u2018neutral\u2019 for MU, \u2018bearish\u2019 for WDC and SNDK, and \u2018extremely bearish\u2019 for STX. The retail sentiment for DRAM was \u2018neutral.\u2019<\/p>\n \u201c$DRAM the longer we are held down by macro noise, geopolitical uncertainty and an imminent overhyped SpaceX IPO, the more intense the next leg up will be. By the end of this month after MU ER, we will be cruising our way to $100+,\u201d a trader\u00a0said<\/a>.<\/p>\n Micron is scheduled to report its quarterly results on June 24. Meanwhile, Daiwa raised its price target on MU to $1,600 from $700, which implies\u00a0an expectation of 80% gains from the stock\u2019s close on Wednesday. That compares to analysts\u2019 average price target of $811.23, which is 9% below the current stock level.<\/p>\n Micron shares are up 212% year to date. DRAM has gained about 100% since its launch on April 2.<\/p>\n For updates and corrections, email newsroom[at]stocktwits[dot]com.<\/p>\n Read Next:\u00a0BABA, JD, PPD Drop Overnight As China Reprimands E-com Giants Over Misleading Ads<\/a><\/p>\n \u00a0<\/p>\n
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