According to CNBC, Todd Gordon of Inside Edge Capital said the XLK ETF has been consolidating in a bullish pattern near $190 after its early July high, with the 50-day moving average at $182.74 flattening and turning higher. He said the XLK/S&P 500 relative ratio has stopped making lower highs, while the DRAM ETF is pressing the top of its summer trading range above $62 and the DRAM/SPX and DRAM/SMH ratios have turned higher. Gordon said Sandisk has been range-bound since mid-July around $1,900, with next 12 months earnings per share at $214.10 and a forward price-to-earnings ratio of 8.3x based on a share price of $1,783.51. He also said Susquehanna reported DRAM and NAND contract pricing running ahead of prior expectations, UBS raised its 2027 blended HBM price growth forecast to roughly 79% year over year from 67%, and Micron's leading-edge capacity is reportedly sold out through the end of this year.