diff --git a/compiler/packages/babel-plugin-react-compiler/src/Inference/InferMutableRanges.ts b/compiler/packages/babel-plugin-react-compiler/src/Inference/InferMutableRanges.ts
index 5a1b79770d..19f8ab5dc2 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/Inference/InferMutableRanges.ts
+++ b/compiler/packages/babel-plugin-react-compiler/src/Inference/InferMutableRanges.ts
@@ -50,11 +50,10 @@ export function inferMutableRanges(ir: HIRFunction): void {
   // Re-infer mutable ranges for all values
   inferMutableLifetimes(ir, true);
 
-  // Re-infer mutable ranges for aliases
+  // Re-infer mutable ranges for aliases, but *not* for stores
   prevAliases = aliases.canonicalize();
   while (true) {
     inferMutableRangesForAlias(ir, aliases);
-    inferAliasForStores(ir, aliases);
     inferAliasForPhis(ir, aliases);
     const nextAliases = aliases.canonicalize();
     if (areEqualMaps(prevAliases, nextAliases)) {
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/array-push-effect.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/array-push-effect.expect.md
index ac75c6b5ac..22cda38b1d 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/array-push-effect.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/array-push-effect.expect.md
@@ -23,7 +23,7 @@ import { c as _c } from "react/compiler-runtime"; // arrayInstance.push should h
 //  - read on all args (rest parameter)
 //  - mutate on receiver
 function Component(props) {
-  const $ = _c(7);
+  const $ = _c(8);
   let t0;
   if ($[0] !== props.x) {
     t0 = foo(props.x);
@@ -45,7 +45,14 @@ function Component(props) {
   let arr;
   if ($[4] !== x || $[5] !== y) {
     arr = [];
-    arr.push({});
+    let t2;
+    if ($[7] === Symbol.for("react.memo_cache_sentinel")) {
+      t2 = {};
+      $[7] = t2;
+    } else {
+      t2 = $[7];
+    }
+    arr.push(t2);
     arr.push(x, y);
     $[4] = x;
     $[5] = y;
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/reduce-reactive-deps/jump-poisoned/reduce-if-nonexhaustive-poisoned-deps.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/reduce-reactive-deps/jump-poisoned/reduce-if-nonexhaustive-poisoned-deps.expect.md
index 80c69f37f4..bb47587687 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/reduce-reactive-deps/jump-poisoned/reduce-if-nonexhaustive-poisoned-deps.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/reduce-reactive-deps/jump-poisoned/reduce-if-nonexhaustive-poisoned-deps.expect.md
@@ -40,7 +40,7 @@ import { c as _c } from "react/compiler-runtime";
 import { identity } from "shared-runtime";
 
 function useFoo(t0) {
-  const $ = _c(7);
+  const $ = _c(9);
   const { input, cond, hasAB } = t0;
   let x;
   let t1;
@@ -53,9 +53,6 @@ function useFoo(t0) {
           t1 = null;
           break bb0;
         }
-
-        x.push(identity(input.a.b));
-      } else {
         let t2;
         if ($[5] !== input.a.b) {
           t2 = identity(input.a.b);
@@ -65,6 +62,16 @@ function useFoo(t0) {
           t2 = $[6];
         }
         x.push(t2);
+      } else {
+        let t2;
+        if ($[7] !== input.a.b) {
+          t2 = identity(input.a.b);
+          $[7] = input.a.b;
+          $[8] = t2;
+        } else {
+          t2 = $[8];
+        }
+        x.push(t2);
       }
     }
     $[0] = cond;
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/reduce-reactive-deps/jump-poisoned/reduce-if-nonexhaustive-poisoned-deps1.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/reduce-reactive-deps/jump-poisoned/reduce-if-nonexhaustive-poisoned-deps1.expect.md
index 10bf34ecc2..59225b5155 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/reduce-reactive-deps/jump-poisoned/reduce-if-nonexhaustive-poisoned-deps1.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/reduce-reactive-deps/jump-poisoned/reduce-if-nonexhaustive-poisoned-deps1.expect.md
@@ -41,7 +41,7 @@ import { c as _c } from "react/compiler-runtime";
 import { identity } from "shared-runtime";
 
 function useFoo(t0) {
-  const $ = _c(7);
+  const $ = _c(11);
   const { input, cond, hasAB } = t0;
   let x;
   let t1;
@@ -54,18 +54,33 @@ function useFoo(t0) {
           t1 = null;
           break bb0;
         } else {
-          x.push(identity(input.a.b));
+          let t2;
+          if ($[5] !== input.a.b) {
+            t2 = identity(input.a.b);
+            $[5] = input.a.b;
+            $[6] = t2;
+          } else {
+            t2 = $[6];
+          }
+          x.push(t2);
         }
-
-        x.push(identity(input.a.b));
+        let t2;
+        if ($[7] !== input.a.b) {
+          t2 = identity(input.a.b);
+          $[7] = input.a.b;
+          $[8] = t2;
+        } else {
+          t2 = $[8];
+        }
+        x.push(t2);
       } else {
         let t2;
-        if ($[5] !== input.a.b) {
+        if ($[9] !== input.a.b) {
           t2 = identity(input.a.b);
-          $[5] = input.a.b;
-          $[6] = t2;
+          $[9] = input.a.b;
+          $[10] = t2;
         } else {
-          t2 = $[6];
+          t2 = $[10];
         }
         x.push(t2);
       }
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/reduce-reactive-deps/jump-unpoisoned/reduce-if-exhaustive-nonpoisoned-deps.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/reduce-reactive-deps/jump-unpoisoned/reduce-if-exhaustive-nonpoisoned-deps.expect.md
index 63df548f02..84b8fa1d43 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/reduce-reactive-deps/jump-unpoisoned/reduce-if-exhaustive-nonpoisoned-deps.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/reduce-reactive-deps/jump-unpoisoned/reduce-if-exhaustive-nonpoisoned-deps.expect.md
@@ -31,7 +31,7 @@ import { c as _c } from "react/compiler-runtime";
 import { identity } from "shared-runtime";
 
 function useFoo(t0) {
-  const $ = _c(7);
+  const $ = _c(9);
   const { input, hasAB, returnNull } = t0;
   let x;
   let t1;
@@ -40,19 +40,27 @@ function useFoo(t0) {
     bb0: {
       x = [];
       if (!hasAB) {
-        x.push(identity(input.a));
+        let t2;
+        if ($[5] !== input.a) {
+          t2 = identity(input.a);
+          $[5] = input.a;
+          $[6] = t2;
+        } else {
+          t2 = $[6];
+        }
+        x.push(t2);
         if (!returnNull) {
           t1 = null;
           break bb0;
         }
       } else {
         let t2;
-        if ($[5] !== input.a.b) {
+        if ($[7] !== input.a.b) {
           t2 = identity(input.a.b);
-          $[5] = input.a.b;
-          $[6] = t2;
+          $[7] = input.a.b;
+          $[8] = t2;
         } else {
-          t2 = $[6];
+          t2 = $[8];
         }
         x.push(t2);
       }
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/reduce-reactive-deps/jump-unpoisoned/reduce-if-exhaustive-nonpoisoned-deps1.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/reduce-reactive-deps/jump-unpoisoned/reduce-if-exhaustive-nonpoisoned-deps1.expect.md
index 9ac2c76b65..a55922f610 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/reduce-reactive-deps/jump-unpoisoned/reduce-if-exhaustive-nonpoisoned-deps1.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/reduce-reactive-deps/jump-unpoisoned/reduce-if-exhaustive-nonpoisoned-deps1.expect.md
@@ -41,7 +41,7 @@ import { c as _c } from "react/compiler-runtime";
 import { identity } from "shared-runtime";
 
 function useFoo(t0) {
-  const $ = _c(7);
+  const $ = _c(11);
   const { input, cond2, cond1 } = t0;
   let x;
   let t1;
@@ -51,20 +51,36 @@ function useFoo(t0) {
       x = [];
       if (cond1) {
         if (!cond2) {
-          x.push(identity(input.a.b));
+          let t2;
+          if ($[5] !== input.a.b) {
+            t2 = identity(input.a.b);
+            $[5] = input.a.b;
+            $[6] = t2;
+          } else {
+            t2 = $[6];
+          }
+          x.push(t2);
           t1 = null;
           break bb0;
         } else {
-          x.push(identity(input.a.b));
+          let t2;
+          if ($[7] !== input.a.b) {
+            t2 = identity(input.a.b);
+            $[7] = input.a.b;
+            $[8] = t2;
+          } else {
+            t2 = $[8];
+          }
+          x.push(t2);
         }
       } else {
         let t2;
-        if ($[5] !== input.a.b) {
+        if ($[9] !== input.a.b) {
           t2 = identity(input.a.b);
-          $[5] = input.a.b;
-          $[6] = t2;
+          $[9] = input.a.b;
+          $[10] = t2;
         } else {
-          t2 = $[6];
+          t2 = $[10];
         }
         x.push(t2);
       }
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/reduce-reactive-deps/reduce-if-exhaustive-poisoned-deps.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/reduce-reactive-deps/reduce-if-exhaustive-poisoned-deps.expect.md
index 6fff19422f..01ab4f6b0a 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/reduce-reactive-deps/reduce-if-exhaustive-poisoned-deps.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/reduce-reactive-deps/reduce-if-exhaustive-poisoned-deps.expect.md
@@ -32,7 +32,7 @@ import { c as _c } from "react/compiler-runtime";
 import { identity } from "shared-runtime";
 
 function useFoo(t0) {
-  const $ = _c(7);
+  const $ = _c(11);
   const { input, inputHasAB, inputHasABC } = t0;
   let x;
   let t1;
@@ -41,21 +41,36 @@ function useFoo(t0) {
     bb0: {
       x = [];
       if (!inputHasABC) {
-        x.push(identity(input.a));
+        let t2;
+        if ($[5] !== input.a) {
+          t2 = identity(input.a);
+          $[5] = input.a;
+          $[6] = t2;
+        } else {
+          t2 = $[6];
+        }
+        x.push(t2);
         if (!inputHasAB) {
           t1 = null;
           break bb0;
         }
-
-        x.push(identity(input.a.b));
+        let t3;
+        if ($[7] !== input.a.b) {
+          t3 = identity(input.a.b);
+          $[7] = input.a.b;
+          $[8] = t3;
+        } else {
+          t3 = $[8];
+        }
+        x.push(t3);
       } else {
         let t2;
-        if ($[5] !== input.a.b.c) {
+        if ($[9] !== input.a.b.c) {
           t2 = identity(input.a.b.c);
-          $[5] = input.a.b.c;
-          $[6] = t2;
+          $[9] = input.a.b.c;
+          $[10] = t2;
         } else {
-          t2 = $[6];
+          t2 = $[10];
         }
         x.push(t2);
       }
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/ssa-property-alias-if.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/ssa-property-alias-if.expect.md
index 0bc9659483..a2e2948c43 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/ssa-property-alias-if.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/ssa-property-alias-if.expect.md
@@ -27,14 +27,11 @@ export const FIXTURE_ENTRYPOINT = {
 ```javascript
 import { c as _c } from "react/compiler-runtime";
 function foo(a) {
-  const $ = _c(3);
+  const $ = _c(4);
   let x;
   if ($[0] !== a) {
     x = {};
     if (a) {
-      const y = {};
-      x.y = y;
-    } else {
       let t0;
       if ($[2] === Symbol.for("react.memo_cache_sentinel")) {
         t0 = {};
@@ -42,6 +39,16 @@ function foo(a) {
       } else {
         t0 = $[2];
       }
+      const y = t0;
+      x.y = y;
+    } else {
+      let t0;
+      if ($[3] === Symbol.for("react.memo_cache_sentinel")) {
+        t0 = {};
+        $[3] = t0;
+      } else {
+        t0 = $[3];
+      }
       const z = t0;
       x.z = z;
     }
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/try-catch-mutate-outer-value.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/try-catch-mutate-outer-value.expect.md
index 0bf6309fba..856d132640 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/try-catch-mutate-outer-value.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/try-catch-mutate-outer-value.expect.md
@@ -28,12 +28,19 @@ import { c as _c } from "react/compiler-runtime";
 const { shallowCopy, throwErrorWithMessage } = require("shared-runtime");
 
 function Component(props) {
-  const $ = _c(2);
+  const $ = _c(3);
   let x;
   if ($[0] !== props.a) {
     x = [];
     try {
-      x.push(throwErrorWithMessage("oops"));
+      let t0;
+      if ($[2] === Symbol.for("react.memo_cache_sentinel")) {
+        t0 = throwErrorWithMessage("oops");
+        $[2] = t0;
+      } else {
+        t0 = $[2];
+      }
+      x.push(t0);
     } catch {
       x.push(shallowCopy({ a: props.a }));
     }
diff --git a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/try-catch-within-mutable-range.expect.md b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/try-catch-within-mutable-range.expect.md
index a01819094e..2b4fab6fef 100644
--- a/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/try-catch-within-mutable-range.expect.md
+++ b/compiler/packages/babel-plugin-react-compiler/src/__tests__/fixtures/compiler/try-catch-within-mutable-range.expect.md
@@ -29,14 +29,28 @@ import { c as _c } from "react/compiler-runtime";
 const { throwErrorWithMessage, shallowCopy } = require("shared-runtime");
 
 function Component(props) {
-  const $ = _c(2);
+  const $ = _c(4);
   let x;
   if ($[0] !== props.value) {
     x = [];
     try {
-      x.push(throwErrorWithMessage("oops"));
+      let t0;
+      if ($[2] === Symbol.for("react.memo_cache_sentinel")) {
+        t0 = throwErrorWithMessage("oops");
+        $[2] = t0;
+      } else {
+        t0 = $[2];
+      }
+      x.push(t0);
     } catch {
-      x.push(shallowCopy({}));
+      let t0;
+      if ($[3] === Symbol.for("react.memo_cache_sentinel")) {
+        t0 = shallowCopy({});
+        $[3] = t0;
+      } else {
+        t0 = $[3];
+      }
+      x.push(t0);
     }
 
     x.push(props.value);