Meta’s capex outran its operating cash flow and it created a non-voting share class to raise capital, while Lam Research said parts shortages capped its guide and put 2027 chip-equipment spending above $200bn, led by DRAM.
Super Micro’s 26% beat against its own guide and a 4% KOSPI rebound split the memory debate into consumer and server markets — and the server sets the contract price.
US chips ended an eight-day losing streak while Korea’s memory stocks sold off again: IDC data shows memory price increases are slowing, which may matter more to memory shares than record profits.
The chip index’s longest losing streak since 2008 is a neocloud credit scare, not a demand break: borrowers pay 15%, builders still fund from cash, and Treasuries acted as the hedge.
US producer prices rose 6.3% a year while consumer prices rose 3.7%: why that gap favours AI bottleneck owners, why bonds rallied anyway, and the weekly-close triggers for memory, Oracle and Treasuries.
TSMC raised its AI demand outlook while Oracle and CoreWeave bonds hit record yields after a hot CPI: why the AI trade now splits into a demand layer and a funding layer.
ASML says its planned 2027 and 2028 lithography supply will not meet demand, which pushes the memory shortage’s end date toward the tool layer; here is how the portfolio reads it, the triggers written in advance, and the risks.
Apple’s order cut, CXMT’s denser DRAM and Broadcom’s “capital, not memory” remark did not change 2027 memory earnings, but they repriced how long the shortage lasts.
Apple’s reported iPhone 18 Pro order cuts are the first buyer-side sign that memory prices are destroying consumer demand — what it changes for the memory cycle, which memory makers are hedged, and the levels we hold into CPI and TSMC.
OpenAI’s revenue pace was reported at about $50 billion instead of $70 billion while Lumentum said its AI optics are sold out into 2029: why both are true, and how the portfolio ranks AI stocks by who pays the invoice.
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