Citi predicts a divergence in US chip stocks: bullish on Micron Technology, bearish on Qualcomm

Golden Ten Data July 6th｜Citigroup analysts stated in a research report: "Given that DRAM chip prices are expected to rise in the second half of 2026, Micron Technology has been placed on the 'upside catalyst' watch list; meanwhile, due to sluggish growth in smartphone sales, Qualcomm has been placed on the 'downside catalyst' watch list." Citigroup analysts noted: "Fundamentally, demand for AI computing remains greater than supply, as evidenced by AWS EC2 GPU prices recently rising by 20%. DRAM shortages are currently the biggest constraint on computing power supply."