[Micron Soars 11.7% in a Single Day, Strengthening the 'AI Cycle Bull Market' Logic for Memory Chips] BlockBeats News, June 12: On Thursday, Micron Technology closed with a sharp 11.7% increase, driving a recovery in the global memory chip sector and reigniting market expectations for the sustainability of the memory cycle. Morgan Stanley analysts stated that the current adjustment appears to be a phase correction within an upward cycle rather than a trend reversal. They noted that the construction of artificial intelligence infrastructure continues to drive up DRAM demand, with memory remaining a critical bottleneck in the expansion of AI computing power. Analysts believe that DRAM prices have now entered a rapid upward trajectory, with some long-term supply agreements beginning to lock in capacity, shifting the industry from a 'spot-driven' to a 'contract-driven' model. This could reshape the valuation framework of the memory industry. Similarly, Wolfe Research pointed out that demand for AI data centers still far exceeds the growth rate of supply, and DRAM and NAND prices may remain high or even rise further in the coming years. Given the constraints on supply expansion, the price increase cycle could extend to 2027 or even longer. However, analysts also cautioned that historically, memory cycles often end in oversupply driven by capacity expansion. Whether the current high prosperity can be sustained until 2028 will depend on the industry's capacity discipline and the realization of AI demand.