Memory-chip shares retreated Thursday after the 10-year Treasury yield rose to its highest level since 2007, pressuring growth stocks and interrupting a rally that has produced triple-digit gains this year for Micron Technology, SanDisk and SK Hynix, according to the new market update. Micron fell roughly 2% to 2.5%. The pullback came despite Wolfe Research raising its SK Hynix price target to $250 from $200 and maintaining a Buy rating. Analyst Chris Caso expects memory demand to exceed supply through at least 2028, supported by pricing power, high-bandwidth memory demand and capacity expansion. Wolfe also set a $1,500 price objective for Micron ahead of its September 30 earnings release. The firm estimates SK Hynix and Micron could generate enough cash in 2026 and 2027 to fund buybacks equal to 32% and 25% of their respective market values, potentially lifting 2027 earnings per share by as much as 47% and 34%.