【US Pre-Market】Memory Chip Sector Rallies Collectively, DRAM ETF Rises Nearly 7%, SK Hynix ADR Pending

The semiconductor and storage sector rebounded collectively in pre-market trading. The DRAM ETF rose nearly 7%, while SanDisk ( SNDK ), Western Digital ( WDC ), and Seagate Technology ( STX) rose over 4%, and Micron Technology ( MU) rose over 2%.

The semiconductor sector as a whole moved higher. Intel ( INTC) rose over 3.5% in pre-market trading; on the news front, the company raised retail prices for some consumer-grade and server-grade CPUs, with consumer products increasing by about $30 to $50 and server products rising by hundreds to thousands of dollars.

The optical communications sector rebounded slightly in pre-market trading. Marvell Technology ( MRVL) rose nearly 4%, while Corning ( GLW) and Coherent ( COHR) rose over 1%.

Computing power rental service providers moved higher in pre-market trading. Oracle ( ORCL) rose over 3%, Nebius ( NBIS) rose over 2%, while Google ( GOOGL) and Microsoft ( MSFT) followed the upward trend.

Mega-cap tech stocks generally rose in pre-market trading. Meta ( META) and Tesla ( TSLA) rose over 1.5%, SpaceX ( SPCX) and Amazon ( AMZN) rose over 1%, while Apple ( AAPL) fell 0.96%.

Goldman Sachs ( GS) calls for an oversold rebound as the chip sector enters a recovery window. Goldman Sachs' trading desk's latest report points out that the momentum stocks that previously led the market have shown initial signs of buy-the-dip activity, suggesting tactical room for a short-term rebound. This round of momentum factors fell 24% cumulatively from their peak, marking the largest drawdown since the first quarter of 2023 and far exceeding the historical average adjustment of 12%. Institutions judge that this plunge is not a complete reversal of AI industry fundamentals, but rather short-term amplified volatility brought about by thin summer trading and insufficient liquidity. However, Goldman Sachs also warns of risks: momentum stock positions remain highly crowded, and if the market continues to deleverage, the subsequent maximum drawdown could reach twice the current decline.

SK Hynix to list on Nasdaq this Friday; $28 billion IPO becomes the center of attention. SK Hynix is expected to list on Nasdaq on Friday, July 10, with an IPO plan of over $28 billion that could become the largest-ever U.S. IPO by a foreign company. SK Hynix trades at 6.2 times its estimated earnings for the next 12 months, lower than Micron Technology's valuation level of about 7 times. The listing is expected to improve its valuation discount, allowing investors to directly trade this leading HBM play.

Samsung Electronics to release Q2 preliminary earnings tomorrow; profit expected to hit record high. Samsung Electronics will release its preliminary second-quarter earnings report this Tuesday (July 7). Wall Street generally expects that, driven by strong demand for AI memory chips (HBM) and rising DRAM prices, Samsung Electronics' preliminary second-quarter profit will hit a record high. This follows Samsung and SK Hynix's announcement in late June of a domestic investment plan exceeding 4,800 trillion Korean won, and the market will closely monitor this earnings report for guidance on subsequent capital expenditure and capacity expansion.

Anthropic to spend $15 billion in Australia for 1.4GW computing power, as the AI infrastructure arms race escapes U.S. domestic bottlenecks. According to Australian media reports, Anthropic plans to build at least 1.4GW of data center computing power resources in Australia, with infrastructure investment reaching $15 billion and a target of having at least 1GW operational by the end of next year. This move comes against the backdrop of power shortages and community resistance faced by U.S. domestic data centers; Blackstone's QTS recently terminated a large-scale project in Virginia. Anthropic signed a memorandum of understanding on AI safety research with the Australian government in March this year. The company's annualized revenue has soared from $9 billion at the beginning of the year to over $44 billion, with its valuation reaching as high as $965 billion, and it has already filed for an IPO.

The semiconductor sector is seeing a breather after last week's sharp sell-off. Goldman Sachs' short-term buy-the-dip signal has injected confidence into the market, but crowded positioning and liquidity risks remain underlying concerns. With economic data relatively light this week, market focus may center on the SK Hynix IPO and earnings from consumer giants. How far this rebound can go depends on the speed and breadth of the subsequent recovery in market sentiment.

This content was translated using AI and reviewed for clarity. It is for informational purposes only.