economy
Micron leads the big tech sell-off. What the charts show about the next big catalyst
We can gain valuable insight when we look at longer-term trends that help us rise above the inevitable near-term noise in this secular AI-driven bull market.
TL;DR
- The S&P 500 is up nearly 8% year-to-date, and the Invesco QQQ ETF is up 16%.
- Taiwanese equities are up 66% in 2026, semiconductors up 72%, and the iShares MSCI South Korea ETF is up about 100%.
- The iShares MSCI Emerging Markets ETF (EEM) is experiencing a two-decade breakout, with significant weightings in Taiwan, South Korea, and China.
- The AI revolution is global and structural, reflected in the earnings of companies powering it.
- Micron, a key player in AI memory, is expected to report substantial sales and net income growth, with analysts anticipating massive EPS growth.
- Key data points for Micron's earnings include the HBM4 ramp, gross margin, Q4 guidance, and high bandwidth memory pricing stability.
- The author holds a significant allocation in Micron and the Roundhill Memory ETF (DRAM), believing in the long-term AI trend despite potential short-term volatility.