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📉 AI Memory Bull Market: Correction or Trend Reversal? $SNDK $SKHYNIX $MU Hynix, SanDisk, Western Digital and Seagate have all pulled back after their latest earnings, despite reporting extremely strong numbers. For example, Hynix posted +257% YoY revenue growth and +557% operating profit, while SanDisk revenue jumped 51% QoQ with data-center demand doubling. So the weakness doesn't necessarily mean the storage cycle is over. It looks more like the market is resetting expectations and valuations after an aggressive rally. 🔥 Micron stands out. Its exposure to HBM, server DRAM and NAND gives it broader AI-memory exposure. It has also secured multiple long-term supply agreements, which could provide greater visibility for future revenue and cash flow. The industry fundamentals remain relatively strong: • DRAM prices expected to rise further • NAND pricing also remains firm • AI server demand continues expanding • NAND supply could remain tight into 2026 ⚠️ But risks are increasing: • Memory price growth is slowing • High prices may pressure PC/smartphone demand • Major manufacturers are increasing CapEx • NAND supply could loosen after 2027 📌 My view: The AI memory bull market doesn't look structurally broken yet. The market is simply shifting from “how fast can earnings grow?” to “how long can this growth continue?” After the correction, some support appears to be developing, with $MU showing notable relative strength. A bottom may be forming, but don't expect an instant V-shaped recovery. More volatility and retests are likely. Optimistic? Yes. Confirmed new rally? Not yet. 👀 $MU $SNDK $SKHYNIX #PayrollsDropCPIFocus #AIMemoryStressTest #SpaceXUnlockRebound