[Chip Sell-Off Pauses, Real Test Shifts to Tech Giant Earnings] BlockBeats News, July 21: Overnight, U.S. chip stocks halted their decline and rebounded, with semiconductor ETFs rising about 1.3%. Nvidia, AMD, and Micron saw broad recoveries, though the Nasdaq remained nearly flat. The earlier concentrated sell-off and leverage rebalancing pressures have temporarily eased. The stabilization of U.S. stocks has provided a brief respite for South Korean stocks and the East Asian storage and equipment supply chain, but the inertia of deleveraging and high-volatility positions has yet to be fully digested. Upcoming earnings reports from Alphabet, Tesla, and Intel will re-examine AI demand, capital expenditures, and profitability realization capabilities. Whether the rebound can continue will still depend on whether the results can support the previously high expectations. (Jin10)