I still see this as a valuation reset, not a structural breakdown. Memory fundamentals remain solid, with stable pricing and rising earnings expectations. That suggests we’re in a mid-cycle correction driven by multiple compression, not a late-cycle downturn where fundamentals deteriorate.
That said, risks are rising. If oil stays above $100, it could trigger earnings downgrades and weaker demand. For now, I’m selectively buying the dip, but staying cautious—the biggest threat is prolonged geopolitical tension feeding both inflation and slowing consumption.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
