MarsBit’s June 22 “US Stock Trend” note said changes in the US-Iran Hormuz agreement have brought geopolitical risk back into focus. Against that backdrop, the market’s attention is centered on two scheduled tests on Thursday: PCE data and Micron’s earnings report. In the note, PCE is tied to the market’s pricing of monetary policy, while Micron’s report is directly connected to the outlook for chips and the memory supply chain.
Chip stocks face a dual pricing check after record highs
The report said chip stocks have reached historical highs and are now facing a two-sided validation process: the AI narrative on one side and monetary policy pricing on the other. AI-related trading still needs support from supply-chain progress, while the PCE data will provide a fresh reference point for policy-path assessment. Together, these two factors make Thursday a key observation point for the direction of the chip sector.
For the memory segment, the note listed SK Hynix’s ADR approval and MSCI review as relevant factors. It also said the logic of AI capital expenditure depends on Nvidia’s capacity and the progress of Micron’s HBM supply. Micron’s earnings report is therefore not only a company-level disclosure, but also a window for tracking HBM supply, memory demand and the next phase of the AI hardware chain.