BlockBeats News, July 2nd. The "BTC OG Whale Insider" agent Garrett Jin stated that the memory sector has reached a phase-wise peak. Micron was rejected at $1250 and fell back, with the stock price dropping significantly on high volume even after a substantial earnings report beat. The lack of positive news and no fund rotation is a clear signal of a phase-wise top. Funds are rapidly leaving the memory stock sector, with the DRAM ETF plunging on high volume. SK Hynix and Samsung are under pressure simultaneously, and foreign investors in South Korea have withdrawn over 100 trillion Korean won (approximately $65 billion) from the market in the past two months. However, funds have not exited the AI sector but are rotating within the sector. While chip stocks were sold off last Friday, Google, Microsoft, and Amazon saw significant volume at the bottom, with Meta also rising on high volume today.

Garrett Jin believes that the logic behind this rotation is Token Optimization: as more workloads are handled by cheap models to process simple tasks, value is gradually settling in the cloud and orchestration layers billed by tokens rather than the model layer itself. This is the moat of hyperscale cloud providers. Based on this, it is judged that hyperscale cloud providers will experience a round of catch-up rally. It is recommended to reduce positions in memory stocks and bet on the catch-up rebound of large cloud providers.