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Storage chips rebound strongly, crypto market fluctuates and consolidates — divergence between two asset classes intensifies On August 4, the global capital markets showed significant divergence. Storage chip stocks represented by $MU Micron, $SNDK SanDisk, and SK Hynix collectively surged, while crypto assets like Bitcoin and Ethereum $ETH continued to fluctuate, showing distinctly different trends between the two asset classes. The storage trio leads the rebound Following the semiconductor sector's rebound and turnaround in the US stock market on August 3, the storage sector continued its strength in pre-market trading on August 4. Micron Technology rose 3.68% pre-market, SK Hynix up 3.00%, SanDisk up 4.05%, and Western Digital up 2.92%. On the previous trading day, SanDisk closed with a strong gain of over 6%, and Micron Technology rose 0.79%. The core catalyst for this round of rebound comes from the ongoing validation of AI demand. Microsoft's intelligent cloud revenue for fiscal year 2026 grew 30% year-over-year, with Azure cloud revenue up 43% year-over-year; Meta's Q2 revenue increased 28% year-over-year, and it significantly raised its full-year capital expenditure guidance. These two giants alleviated market concerns about a slowdown in AI investment with their performance, making chip stocks the leaders of the rebound. On the fundamentals side, AI servers' demand for high-end storage like HBM is growing exponentially, and major suppliers' high-end AI memory capacity is basically sold out through 2026. DRAM contract prices increased 30% to 50% quarter-over-quarter. Morgan Stanley pointed out that the sharp drop in July was mainly due to forced liquidations and deleveraging, not a collapse in demand. Crypto market remains volatile Unlike the strong rebound in storage chips, the crypto market remains in a fluctuating pattern. Bitcoin briefly approached $64,100 in early Asian trading on Tuesday, reclaiming the $63,000 level lost on Monday. However, it then came under pressure and retreated, currently consolidating around $63,500. #FedSplitGoesPublic