DRAM + NAND been riding classic pig cycles for 20 years:
Price moons → everyone apes in → oversupply → price dumps → losses → capex cuts → shortage → price moons again
3-5 year cycles. Micron went from NEGATIVE margins to 85% gross margin.
But now $MU CEO keeps saying "this time is different"
Yeah we've heard that before... or is AI demand actually breaking the cycle? 👀
Price moons → everyone apes in → oversupply → price dumps → losses → capex cuts → shortage → price moons again
3-5 year cycles. Micron went from NEGATIVE margins to 85% gross margin.
But now $MU CEO keeps saying "this time is different"
Yeah we've heard that before... or is AI demand actually breaking the cycle? 👀