Sell MU by Oct 29, 2026.

Saw this in a Goldman note today. China smartphone shipments in June were 17m units, down 17% YoY and 36% MoM, "given rising memory cost weighing on demand." So the AI memory shortage is no longer just a supply story. Samsung, Hynix and Micron moved capacity to HBM for AI chips, DRAM contract prices roughly doubled in Q1, and now regular consumers are getting priced out of phones. Memory is like 15-20% of the cost of a midrange phone, so …