[Serenity: The AI Industry Chain is Strengthening Supply-Demand Lock-in, Market Adjustment Likely Due to Deleveraging Rather Than Demand Deterioration] The 'White-Haired Stock God' Serenity stated in a post that today Micron ($MU) announced a long-term memory supply agreement with Qualcomm (QCOM), but the market's reaction was unexpected, with Micron's stock price subsequently dropping by 5.37%. Serenity believes that against the backdrop of the AI industry chain continuously signing long-term supply agreements to lock in future demand, there are no clear signs of fundamental deterioration in memory and AI-related stocks. The recent sector adjustment is more likely driven by the market's deleveraging process and chain reactions triggered by margin pressure, rather than a reversal in AI demand or storage industry trends. Serenity pointed out that as AI infrastructure construction continues to advance, the upstream and downstream of the industry chain are strengthening supply assurance through long-term agreements. Short-term market fluctuations may reflect funding and valuation adjustments more than changes in the logic of long-term growth.