Sell POET by Oct 4, 2026.

**TL;DR (Executive Summary)** **1. The Physics Problem (Why HBM4 is a Nightmare):** Wall Street is overly optimistic, but the engineering reality is brutal. Stacking 14 to 16 layers of memory chips creates extreme heat. During manufacturing, temperatures reach 260°C, warping the silicon far past acceptable boundaries. This creates tiny micro-cracks and internal voids that short-circuit the chips, crushing production yields below the 65% threshold \[14, 15, 16\]. **2. The Hype vs. Reality Timeline:** Mainstream media claims the Micron/Hynix/TSMC alliance will …