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[US Stock Market Pre-Market: Micron's Strong Earnings Guidance, Memory Chip Shortage Continues] ⑴ On December 18, US stock futures rose across the board, with Nasdaq futures up 0.85%, S&P 500 futures up 0.45%, and Dow futures up 0.18%. Meanwhile, European stocks showed mixed performance, with the German DAX index up 0.25%, the UK FTSE 100 index down 0.04%, the French CAC index up 0.11%, and the Euro Stoxx 50 index up 0.35%. (2) Key highlights focus on Micron Technology, whose Q1 results and guidance both exceeded market expectations. The company's CEO explicitly stated that the DRAM supply shortage will continue beyond 2026. The technology sector is also seeing frequent developments: Google launched the low-cost, large-scale Gemini3 Flash, with inference capabilities approaching those of the high-end Gemini3 Pro; Morgan Stanley raised its target price for Apple to $315, listing it as its top pick in 2026 technology hardware stocks; Amazon restructured its AI division, appointing Peter DeSantis, Senior Vice President of Cloud Business, as its head; and investment bank William Blair pointed out that excluding related businesses, Tesla's automotive business is only worth $30-40 per share. (3) The technology ecosystem and semiconductor industry are simultaneously undergoing new changes. The Qianwen APP has begun integrating with its first Alibaba ecosystem scenario—Gaode Maps—giving it the ability to understand and act on the physical world; the semiconductor sector is showing dynamics on both the supply and demand sides. On the one hand, due to chip shortages, several factories in Japan and China will suspend production in the coming weeks; on the other hand, Texas Instruments' Sherman 12-inch wafer fab SM1 has officially started operation, with a daily chip production capacity of tens of millions of units. Other reports indicate that Trump Media Technology Group plans to merge with nuclear fusion company TAE in an all-stock transaction.