$SK hynix(SKHY)$ $Micron Technology(MU)$ $SanDisk Corp.(SNDK)$ There's a basic rule of thumb: the more FUD, the more someone wants it. The more FUD gets spread — in variety, in concentration, in duration — the more someone else wants it. The bigger the disguise, the bigger the prize. Narratives are smoke and mirrors; they obscure intentions.

Sometimes narratives come close to reality, or point in the direction stocks will go. That was pretty clear with EV stocks. Narratives were spread by those who didn't want the stocks to succeed, or the EVs to succeed, or the company to succeed. It felt like politics playing out through equities.

With memory stocks it's a bit different. You don't see the same kind of narratives with chip stocks. In fact, CNBC is still out there promoting one manufacturer or another every single day. But with memory stocks, it's wildly different. Institutions have unleashed a media blitz and created a zillion leveraged ETFs to target memory stocks, discredit them, and suppress the price.

When the best analysts call FUD "FUD," it's FUD.