Citigroup: bullish on Micron Technology, bearish on Qualcomm

Citigroup analysts stated in a research report that considering the expected increase in DRAM chip prices in the second half of 2026, Micron Technology will be included in the "upward catalyst" observation list; Due to weak growth in smartphone sales, Qualcomm has been placed on the "downward catalyst" observation list. Citi analysts say that the demand for artificial intelligence computing is in short supply, and the 20% increase in AWS EC2 GPU prices reflects this. DRAM shortage is the biggest constraint on computing power supply.