Shyon
09-11 23:00
I think Kioxia’s potential U.S. listing is interesting because it could give NAND and enterprise SSDs much more visibility among global AI investors. AI is not only driving HBM demand anymore. The massive growth in data, inference and AI workloads also means storage is becoming an increasingly important part of the infrastructure.

For me, this makes $SanDisk Corp.(SNDK)$ and $Micron Technology(MU)$ particularly interesting to watch, although their exposure is different. I am especially watching whether enterprise SSD demand and NAND pricing can remain strong as AI data-center spending continues to grow.

I still see storage as a cyclical industry, so I would not chase the rally blindly. If AI can structurally improve storage demand and earnings power, this could be more than another memory cycle. I prefer to accumulate gradually on pullbacks and let the fundamentals confirm the thesis.

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Comments

  • riffy
    09-12 00:33
    riffy
    For MU, I care more about whether book value or free cash flow yield really offers a margin of safety here. Storage can rerate on AI, but cycles still punish late entries lol
    • Shyon
      Yeah entry is really important at this stage
  • miffsy
    09-12 00:33
    miffsy
    NAND contract pricing staying firm into next quarter is the part I care about. If enterprise SSD mix keeps improving, storage might finally earn a better multiple lol
    • Shyon
      The ASP needs to maintain good for the stock price to stay at such high price.
  • 1PC
    09-12 22:56
    1PC
    • Shyon
      Thanks a lot for your support and sharing as usual
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