Memory Stocks Surge Up to 14% on July 21; Wall Street Firms See Kimi K3 Boosting Chip Demand

DRAM-1.07%
SK Hynix-0.32%
SKHY-2.05%
SKHYV-0.98%
MU0.17%
According to Bank of America, UBS, Morgan Stanley, and JPMorgan, memory stocks staged a collective rally on July 21, with the Roundhill Memory ETF (DRAM-US) gaining 10.91% and individual names including SanDisk surging 14.27%, SK Hynix climbing 13.75%, and Micron rising 12.17%. Multiple Wall Street analysts dismissed concerns that China's Kimi K3 AI model weakens semiconductor demand, arguing instead that competitive open-source model deployments drive higher requirements for high-performance memory chips, pricing memory stocks as attractive on dips amid persistent data center supply tightness.
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