That's right. Triple digits. Regarded? Perhaps. My conviction is that the further we get from the June highs, the more and more clear the signs of a cyclical peak having already been reached have become, and memory stocks are soon to crater. Now, what about the "insatiable demand", you say?
See, cyclical stock prices often peak before earnings do, due to the market's inability to correctly price these companies at peak demand, which is why the idea of a stock price declining amid said insatiable demand seems impossible to fathom. But it has happened to memory stocks in the past, and will happen again. And with rumors of growth slowing in the AI sector thanks to bearish comments by both Anthropic and OpenAI's CEOs, this will only add fuel to the fire of high beta AI-laden stocks dropping off a cliff.
If you want to see something interesting, take a look at the "Psychology of a Market Cycle" chart, which almost perfectly mirrors MU's chart over the last year - The massive run-up into June highs, the euphoria stage, and today being the complacency stage. Despite widespread belief of a rally to a new high on the way, the complacency stage is often instead met by a total drop-off.
Why SNDK? Biggest leverage to the downside. Short since $1680 and riding this one back down to triple digits.
