<p>TradingKey - 在上周五的广泛抛售之后，美国存储行业在今天的盘前交易中强劲反弹，美光科技（MU）上涨超过 7%。</p>
<p><img src="https://imageproxy.pbkrs.com/https://resource.tradingkey.com/uploads/20260608/mu-c5249c944b4f410ea4dcdbc828c97460.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1807" height="719" original-src="https://imageproxy.pbkrs.com/https://resource.tradingkey.com/uploads/20260608/mu-c5249c944b4f410ea4dcdbc828c97460.png"/></p>
<p>在新闻方面，特斯拉（TSLA）首席执行官埃隆·马斯克在摩根大通全球总部的采访中公开表达了对美光科技的看涨观点，他表示 “真正的瓶颈在于芯片制造能力”，并且美光目前的生产能力仍远低于实际需求。</p>
<p>此外，富国银行（WFC）大幅提高了对美光科技的目标价至 1,220 美元。</p>
<p>美光科技首席执行官桑杰·梅赫罗特拉在上周的一次播客中分享了对 AI 时代存储行业的深刻见解。这位在半导体行业拥有超过 40 年经验的老将，目前正在引领美光经历其历史上最快的增长阶段。</p>
<p>“AI 仍处于非常早期的阶段，” 桑杰反复强调这一核心判断。在他看来，随着大型模型、代理 AI 和推理应用的不断发展，AI 不仅需要更强大的计算能力，还需要更强的 “记忆能力”。</p>
<p>更长的上下文窗口、更大的模型规模以及令牌消耗的指数增长都在推动存储需求的持续上升。他用 “智能本身” 来描述存储的新角色：“今天，存储不仅仅是让设备运行；它是在支持 AI 内部的 ‘智能’ 本身，帮助人工智能变得更聪明。”</p>
<p>桑杰认为，AI 竞赛不仅是计算能力的竞赛，也是存储的竞赛。他解释说，AI 的本质是数据，而数据离不开存储。随着模型规模的扩大和推理需求的持续上升，AI 从训练转向推理，从数据中心转向边缘，存储需求只会增加——需要更大的容量、更高的性能和更低的功耗。</p>
<p>他特别提到令牌经济对存储的依赖：“随着令牌使用的增长，上下文窗口变得更长，KV 缓存的需求增加，模型本身也变得更大。AI 不仅需要计算能力；它还需要 ‘记忆’ 的能力。”</p>
<p>供应端的结构性约束进一步加剧了存储行业的紧张局面。桑杰指出，目前存储行业面临的是长期的供应约束，而不是短期的供需失衡。先进的存储产品消耗更多的晶圆，建设新的晶圆厂通常需要三到四年，随后的生产爬坡时间也同样漫长。</p>
<p>更重要的是，随着技术节点的进步，每个晶圆的存储容量产出增长正在下降。他预测，行业的供应紧张局面可能会持续到 2026 年以后。</p>
<p>美光已与包括英伟达（NVDA）、谷歌（GOOGL）和亚马逊（AMZN）在内的六家超大规模客户建立了长期供应合作关系，巩固了其在高端 AI 内存供应链中的战略地位。</p>
<p>了解更多</p>

美光科技

亚马逊

谷歌-A

<p>美光科技的股价在盘前交易中反弹超过 7%，这得益于特斯拉首席执行官埃隆·马斯克的看涨支持以及富国银行将其目标价上调至 1,220 美元。美光首席执行官 Sanjay Mehrotra 强调，人工智能的增长正在推动对高性能存储的前所未有的需求，并指出结构性供应限制可能会持续到 2026 年以后。该公司已与 NVIDIA、谷歌和亚马逊等主要超大规模云服务商建立了长期合作关系，以巩固其在人工智能内存供应链中的地位</p>

<p>TradingKey - Following last Friday's broad sell-off, the U.S. storage sector saw a strong rebound in pre-market trading today, with Micron Technology ( MU) gaining more than 7%.</p>
<div class="lb-trans"><p>TradingKey - 在上周五的广泛抛售之后，美国存储行业在今天的盘前交易中强劲反弹，美光科技（MU）上涨超过 7%。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://resource.tradingkey.com/uploads/20260608/mu-c5249c944b4f410ea4dcdbc828c97460.png" alt="" original-src="https://resource.tradingkey.com/uploads/20260608/mu-c5249c944b4f410ea4dcdbc828c97460.png"/></p>
<p>On the news front, Tesla ( TSLA) CEO Elon Musk publicly expressed a bullish view on Micron Technology during an interview at JPMorgan Chase's global headquarters, stating that &#34;the real bottleneck lies in chip manufacturing capacity&#34; and that Micron's current production capacity is still far below actual demand.</p>
<div class="lb-trans"><p>在新闻方面，特斯拉（TSLA）首席执行官埃隆·马斯克在摩根大通全球总部的采访中公开表达了对美光科技的看涨观点，他表示 “真正的瓶颈在于芯片制造能力”，并且美光目前的生产能力仍远低于实际需求。</p>
</div><p>In addition, Wells Fargo ( WFC) significantly raised its price target for Micron Technology to $1,220.</p>
<div class="lb-trans"><p>此外，富国银行（WFC）大幅提高了对美光科技的目标价至 1,220 美元。</p>
</div><p>Micron Technology CEO Sanjay Mehrotra shared deep insights into the storage industry in the AI era during a podcast last week. This veteran with over 40 years of experience in the semiconductor industry is currently leading Micron through the most rapid growth phase in its history.</p>
<div class="lb-trans"><p>美光科技首席执行官桑杰·梅赫罗特拉在上周的一次播客中分享了对 AI 时代存储行业的深刻见解。这位在半导体行业拥有超过 40 年经验的老将，目前正在引领美光经历其历史上最快的增长阶段。</p>
</div><p>&#34;AI is still in its very early stages,&#34; is the core judgment Sanjay has repeatedly emphasized. In his view, as large models, Agent AI, and inference applications continue to evolve, AI requires not only more powerful computing power but also stronger &#34;memory capabilities.&#34;</p>
<div class="lb-trans"><p>“AI 仍处于非常早期的阶段，” 桑杰反复强调这一核心判断。在他看来，随着大型模型、代理 AI 和推理应用的不断发展，AI 不仅需要更强大的计算能力，还需要更强的 “记忆能力”。</p>
</div><p>Longer context windows, larger model sizes, and the exponential growth of token consumption are all driving the continuous rise in storage demand. He used the term &#34;intelligence itself&#34; to describe storage's new role: &#34;Today, storage is not just about making devices run; it is supporting the 'intelligence' itself within AI, helping artificial intelligence become smarter.&#34;</p>
<div class="lb-trans"><p>更长的上下文窗口、更大的模型规模以及令牌消耗的指数增长都在推动存储需求的持续上升。他用 “智能本身” 来描述存储的新角色：“今天，存储不仅仅是让设备运行；它是在支持 AI 内部的 ‘智能’ 本身，帮助人工智能变得更聪明。”</p>
</div><p>Sanjay believes that the AI race is not only a race for computing power but also a race for storage. He explained that the essence of AI is data, and data cannot exist without storage. As models grow larger and inference demand continues to rise, with AI moving from training to inference and from data centers to the edge, the demand for storage will only increase—requiring larger capacity, higher performance, and lower power consumption.</p>
<div class="lb-trans"><p>桑杰认为，AI 竞赛不仅是计算能力的竞赛，也是存储的竞赛。他解释说，AI 的本质是数据，而数据离不开存储。随着模型规模的扩大和推理需求的持续上升，AI 从训练转向推理，从数据中心转向边缘，存储需求只会增加——需要更大的容量、更高的性能和更低的功耗。</p>
</div><p>He specifically mentioned the dependence of token economics on storage: &#34;As token usage grows, context windows become longer, and KV cache requirements increase, the models themselves also become larger. AI needs more than just computing power; it needs the ability to 'remember'.&#34;</p>
<div class="lb-trans"><p>他特别提到令牌经济对存储的依赖：“随着令牌使用的增长，上下文窗口变得更长，KV 缓存的需求增加，模型本身也变得更大。AI 不仅需要计算能力；它还需要 ‘记忆’ 的能力。”</p>
</div><p>Structural constraints on the supply side have further intensified the tightness in the storage industry. Sanjay pointed out that the current storage industry is facing a long-term supply constraint rather than a short-term supply-demand mismatch. Advanced storage products consume more wafers, and building new wafer fabs often takes three to four years, with a similarly long subsequent production ramp-up.</p>
<div class="lb-trans"><p>供应端的结构性约束进一步加剧了存储行业的紧张局面。桑杰指出，目前存储行业面临的是长期的供应约束，而不是短期的供需失衡。先进的存储产品消耗更多的晶圆，建设新的晶圆厂通常需要三到四年，随后的生产爬坡时间也同样漫长。</p>
</div><p>More importantly, as technology nodes advance, the growth in storage capacity output per wafer is declining. He predicts that the industry's supply tightness is likely to persist beyond 2026.</p>
<div class="lb-trans"><p>更重要的是，随着技术节点的进步，每个晶圆的存储容量产出增长正在下降。他预测，行业的供应紧张局面可能会持续到 2026 年以后。</p>
</div><p>Micron has entered into collaborations with companies including NVIDIA ( NVDA ), Google ( GOOGL ), and Amazon ( AMZN ), among a total of six hyperscale customers, to establish long-term supply partnerships, solidifying its strategic position in the high-end AI memory supply chain.</p>
<div class="lb-trans"><p>美光已与包括英伟达（NVDA）、谷歌（GOOGL）和亚马逊（AMZN）在内的六家超大规模客户建立了长期供应合作关系，巩固了其在高端 AI 内存供应链中的战略地位。</p>
</div><p>Find out more</p>
<div class="lb-trans"><p>了解更多</p>
</div>

Micron Rebounds 7% Pre-Market, Musk Personally Endorses. Wells Fargo Gives $1,220 Price Target

- 美国存储行业在前市场交易中反弹，Micron Technology 上涨超过 7%。  
- 特斯拉 CEO 埃隆·马斯克表示，存储需求超过生产能力，Wells Fargo 目标价调至 $1,220。  
- Micron CEO 强调 AI 时代存储的重要性，并预示行业供需紧张将持续。

TradingKey

英伟达

谷歌-C

1 倍做空 MU ETF - Direxion

2 倍做多美光科技 ETF - Direxion

2 倍做多 MU ETF - GraniteShares

英伟达期权收益策略 ETF - YieldMax

2 倍做多谷歌 ETF - Direxion

Roundhill AMZN WeeklyPay ETF

2 倍做空 NVDA ETF - T-Rex

2 倍做多 NVDA ETF - T-Rex

2 倍做多英伟达 ETF - GraniteShares

Roundhill GOOGL WeeklyPay ETF

1 倍做空英伟达 ETF - Direxion

2 倍做空 NVDA ETF - GraniteShares

2 倍做多英伟达 ETF - Direxion

亚马逊每日 1 倍做空 ETF - Direxion

1.5 倍做空英伟达 ETF - Tradr

南方两倍做空英伟达

南方两倍做多英伟达

1 倍做空谷歌 ETF - Direxion

亚马逊每日 2 倍做多 ETF - Direxion

Tradr 2X Short AMZN Daily ETF

GraniteShares 2x Long AMZN Daily ETF

xETFs NVDA Daily Income ETF

Graniteshares YieldBOOST AMZN ETF

Kurv Yield Premium Strategy Amazon AMZN ETF

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YieldMax GOOGL Option Income Strategy ETF

ProShares Ultra NVDA

2 倍做多英伟达 ETF - Leverage Shares

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GraniteShares YieldBOOST NVDA ETF

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半导体 ETF - VanEck Vectors

费城交易所 半导体 ETF - iShares

半导体 3 倍做多 - Direxion

Invesco PHLX Semiconductor ETF

标普半导体 ETF - SPDR

动态半导体 ETF - Invesco

纳斯达克半导体 ETF - First Trust

富国银行

特斯拉

摩根大通

WELLS FARGO & COMPANY DP SHS REP 1/1000TH INT NCUM PFD CL A DD

WELLS FARGO & COMPANY 7.5% PERP CONV PRF CLS 'A' SERIES 'L'

WELLS FARGO & COMPANY DEP SHS REP 1/1000 INT PER PFD SER Y A

WELLS FARGO & COMPANY DP SHS REP 1/1000TH INT NCUM PFD CL A CC

WELLS FARGO & COMPANY 4.75% DEP SHS 1/1000 NCUM PFD CL A SR Z

WELLS FARGO & COMPANY DEP SHS REP 1/1000TH INT PFD SR AA (CLA)

JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

JPMORGAN CHASE & CO. 6%NON CUM DEP SHS REP 1/400TH PFD SER EE

JPMORGAN CHASE & CO. DEP REP 1/400TH (5.75% NON CUM PFD DD)

JPMORGAN CHASE & CO. 4.625% DEP SH RE 1/400TH INT NO CU PF LL

JPMorgan Chase & Co.

JPMORGAN CHASE & CO. 4.55% DEP SHS REPSTG 1/400TH PFD SER JJ

JPMORGAN CHASE & CO. 4.75 DEP SHS REP 1/400 NCUM PFD SR GG

NVIDIA Corporation

美光科技在盘前反弹 7%，马斯克亲自表示支持。富国银行给予 1220 美元的目标价