I’ve covered Micron repeatedly, and each time, the story has been some version of the same thing. The artificial intelligence (AI) memory supercycle is getting bigger than the market expected, and Micron keeps proving the bears wrong.

Tuesday, June 23, is a jarring interruption. MU dropped more than 12% to below $1,060. Why? Not because of anything Micron did, but because South Korean stocks crashed 10%, triggering a 20-minute trading suspension, according to Reuters.

The massive sell-off was sparked by a global pullback in AI and tech stocks, foreign profit-taking following an overheated rally, and regulatory concerns over leveraged ETFs tied to the country’s largest chipmakers.

Spooked investors heading into the June 24…