Mortgage Rates Hit Multi-Year High, Can Nike Be Saved?, Powering Data Center Demand 10/1/26

AI infrastructure demand remains strong per Micron, but utilities funding that buildout are sliding on debt costs, not just rates.

• Micron read-through: JoAnne Feeney called Micron's strong Q4 (memory demand above supply) bullish for AI infrastructure names like Lam Research (+3%), but flagged Micron itself as risky given elevated memory prices.
• Mortgage rates near multi-year high: 30-year fixed hit ~7.6% (highest since Nov 2023); Matthew Graham said rate indices vary by methodology and told buyers to focus on day-over-day change, not the headline level.

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