Memory valuations peaked. Increased capex won’t help anymore. Money is rotating to different parts of the AI buildout.

Increased capex won’t help anymore. The ceiling is here. SK hynix, Samsung, and Kioxia all missed earnings.

Yes, the earnings expectations were ridiculous, but that’s also what gave memory stocks these ridiculous valuations in the first place.

At this point, strong AI capex is already expected. It doesn’t matter as much anymore unless memory companies keep beating those extreme expectations. The next play is optics.

I hold 500 shares of MRVL.

SanDisk went from 8% green to -4% while MRVL and other optics held most of overnight gain

Edit: for the record I had MU and SDNK before. I’m not memory bear lol but the copium is insane down in the comment