MU: Ives Sees AI

Wedbush analyst Dan Ives believes the artificial intelligence trade remains in the “third inning,” calling Tuesday’s pullback in technology and memory-chip stocks a “gut check moment” rather than a sign of weakening demand. AI Demand Remains Strong Speaking on CNBC’s Closing Bell Tuesday, Ives said checks in Taiwan and South Korea continue to point to strong demand across the AI supply chain. The comments came after a selloff in AI, semiconductor and memory-chip stocks, led by weakness in South Korean memory names ahead of Micron Technology Inc ‘s (NASDAQ: MU ) earnings report after the bell on Wednesday.

“We continue to believe this AI Revolution is in the 3rd inning and today’s tech sell off was a ‘gut check moment’ after the Korea-led memory chip sell off overnight,” Ives said in a post on X. ” Read Also: Micron, FedEx And 3 Stocks To Watch Heading Into Wednesday Memory Pullback Seen As Healthy Ives said the sharp decline in memory-chip stocks should be viewed as a healthy pullback following a strong run rather than a sign of deteriorating fundamentals. The analyst highlighted SK Hynix and Micron as key beneficiaries of continued AI spending, adding that the demand trends remain intact despite recent volatility.

“The pullback in the KOSPI … It’s a healthy pullback,” Ives added, after South Korea’s tech-heavy benchmark, the world’s best-performing index this year, fell 10% on Tuesday. According to Ives, the recent weakness represents a buying opportunity across memory, infrastructure and other AI-linked names. Korean Chip Stocks Rebound Samsung Electronics and SK Hynix each fell more than 12% on Tuesday, while Taiwan Semiconductor Manufacturing Co (NYSE: TSM ) also declined roughly 6% as investors sold AI and memory-related stocks across Asia. 70%.

20% as Samsung climbed nearly 9% and SK Hynix advanced 2% in Seoul at the time of writing. 08% in after-hours trading. Benzinga edge rankings indicate MU has a Momentum score in the 99th percentile and a Growth score in the 83rd percentile. Read Also: Cerebras CEO Says AI's Biggest Bottleneck Is No Longer Chips: 'Demand Is Not The Constraint.

Supply Is Not The Constraint' Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published editors. com