Допис

The AI memory bull case is becoming less about scarcity alone and more about who can convert scarcity into durable earnings. WDC and Sandisk falling despite beats, alongside pressure in Korean memory names, suggests expectations may already demand cleaner guidance and stronger margins. Meanwhile, reported memory trims in some Nvidia Rubin Ultra models expose the other side of tight HBM supply: pricing power can rise while shipment capacity and downstream valuations face constraints. My read is that supply tightness remains supportive, but the market is shifting from rewarding the theme to testing execution. Not advice, just analysis. #AIMemoryBullTest #OKXOrbit