glimmzy
08-04

$SK hynix(SKHY)$ $Micron Technology(MU)$ $SanDisk Corp.(SNDK)$ I came across a long-term PMI chart that tracks industrial activity cycles. It's worth looking at for anyone researching memory investment and the cyclical consumer side of the memory market.

The end of the chart shows the Covid plunge in industrial activity, a sharp post-Covid surge, and then a steep decline since. That's what created the "GDP recession" feel to the economy since 2022. It dropped, nearly recovered, and then fell again.

Consumer sentiment tells a similar story. It's been plunging since Covid, briefly looked like it was recovering, and then turned back down. If PMI starts recovering, consumer sentiment should follow, and that would bring consumers back to shopping for phones, laptops, and cars — consumer device memory demand.

That would layer on top of the existing HBM data center demand. To me, the setup looks like money.

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