Ark Invest CEO Cathie Wood is avoiding memory-dependent artificial intelligence chip stocks, viewing high-bandwidth memory as the semiconductor industry’s most cyclical and commoditized segment. She favors Cerebras Systems Inc. (NASDAQ:CBRS) and Groq, whose architectures use fast on-chip memory to reduce or avoid external HBM. The strategy comes as Samsung Electronics Co. Ltd. (OTC:SSNLF), SK Hynix Inc. (NASDAQ:SKHY) and Micron Technology Inc. (NASDAQ:MU) benefit from an AI-driven memory shortage, with J.P. Morgan forecasting DRAM prices could rise more than 400% from the start of 2024 through the end of 2026 and Counterpoint Research expecting meaningful supply relief no earlier than 2028. Micron shares recovered 0.66% to $947 in Wednesday premarket trading after falling 7.02% on Tuesday. The company has signed 16 long-term customer agreements representing about $100 billion in cumulative revenue through 2030, while analysts maintain a Buy consensus and an average price forecast of $1,537.50. Technical indicators show a bullish longer-term trend but neutral near-term momentum.