Micron, Sandisk And SK Hynix Are Tanking On Korea Selloff — Dan Ives Says That's Not The Story

South Korea’s KOSPI fell about 10% in a sharp selloff, but Wedbush analyst Dan Ives argued the move does not signal the end of the AI trade. The pullback followed a roughly 90% year-to-date surge and came right after SK Hynix briefly surpassed Samsung as South Korea’s most valuable listed company. Ives said the weakness reflects overheating and positioning, not deteriorating fundamentals, and reiterated that memory-chip makers remain key beneficiaries of the AI buildout. The article highlights tight supply and strong demand for high-bandwidth memory used in AI servers, with Micron’s upcoming earnings seen as an important test for the sector. Investors will focus on HBM demand, pricing, and supply commentary to gauge whether the AI memory rally has more room to run.