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I've been holding DRAM, but it really sold off after Meta's cloud computing announcement.
Now SK Hynix's ADR (SKHY) is listing in the US on July 10, and I'm wondering if this dip is more of a reset than the end of the trade. Part of me wants to keep holding DRAM and wait for a rebound, but I'm also curious whether the SKHY listing could shift some attention back to the memory space.
Anyone else watching this, or am I overthinking it?

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been chewing on this all week so bear with me.

Micron just printed mobile and client revenue of $11.5B, up 49% QoQ. gross margin 87%, operating margin 86%. that is not a typo. SK Hynix and Samsung are riding the same wave. memory is basically printing money right now.

then look at the other side. AAPL bumped prices on Macs, iPads, home devices. fiscal Q2 26 gross margin 49.3%, product gross margin sitting at 38.7%. stock got smoked on the print. the math is brutal, even Apple cannot fully eat what MU is charging.

what stood out to me when i pulled the comp on moomoo, MU growth is almost entirely price-led, not unit-led. so this is not a volume story you can shrug off as one quarter. it is a structural cost shift and downstream margins are the bag holder.

so the trade in my head, long memory ($MU $WDC $SNDK or just $DRAM if you want a basket), short or just trim the consumer hardware names that have to swallow it. AAPL is the obvious one but anything that ships DRAM heavy boxes is on the menu.

what i am stuck on, how long does this last before Apple just starts engineering around the cost or pushing suppliers back. they have the leverage eventually right? or am i underrating how cooked the supply side is for the next 4-6 quarters.

anyone here actually long both sides as a pair trade? curious if you are sizing it differently than i am thinking.

Been chewing on this all morning. Korea just announced 800 trillion won for four new chip factories in the southwest, another 81 trillion for a packaging plant in Chungcheong, and a plan to double DRAM capacity in five years. On top of that, over 1,000 trillion won earmarked for AI data centers by 2035.

Everyone's gonna pile into Samsung, SK Hynix, maybe MU on the US side. I get it. But this feels like a classic picks and shovels setup to me.

If you're doubling DRAM capacity, you don't get there without ASML scanners, AMAT and LRCX deposition and etch tools, KLAC for metrology, Tokyo Electron all over the line. Same story on materials, Shin-Etsu and SUMCO wafers, DuPont chemicals, Linde gases. The fabs fight each other on memory pricing. The equipment guys just collect orders no matter who wins.

Was pulling up the order book comps on moomoo earlier and the equipment names already have visibility deep into next year. Memory is still hostage to the cycle. Margins compress the second supply catches up, and we know how that movie ends.

Risks I'm not ignoring: overcapacity hangover, export controls getting messier, China indigenization eating into long term TAM. fwiw none of that changes the near term capex flood.

Anyone actually long the memory names here instead of the toolmakers? Curious what the bull case looks like when capacity is literally being mandated to double.

I asked moomoo AI how $Micron Technology (MU.US)$ will affect by South Korean competitors. Moomoo AI quickly compared the short term and long term prospect. It explained that how Micron will protect its business model by locking demand via hyperscaler long term contracts.

My prediction for this week earnings winner is Constellation

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