The concept of storage ETFs has risen again. As of the time of writing, the Southern Dual Bull Hynix (07709) rose by 22.74% to 133 Hong Kong dollars; the Southern Dual Bull Samsung Electronics (07747) rose by 8.7% to 171 Hong Kong dollars. In terms of news, a UBS research report pointed out that as the details of AI's structural transformation of the entire memory industry continue to emerge, the market will gradually price storage stocks at more "normal" valuation multiples. Large-scale cloud computing companies are increasingly willing to lock in long-term supplies, willing to make certain pricing concessions in exchange for long-term supply guarantees and higher predictability of future deployment costs. It is worth noting that UBS has significantly raised its target price for Micron (MU.US) to $1625. The bank's bullish core logic is not limited to high bandwidth memory (HBM), but rather the industry's first Enhanced Long-Term Agreement (LTA). Morgan Stanley believes that memory has become a key bottleneck in AI infrastructure. LTAs signed by customers to ensure supply are transforming a traditional cyclical business into a guaranteed, high-profit, long-term revenue stream.