On June 12th, Micron Technology closed up 11.7%, driving the global memory chip sector to stabilize and rebound, and market expectations for the sustainability of the storage cycle have once again heated up.

Morgan Stanley analysts stated that this round of adjustment is more like a phase of pullback during an upward cycle rather than a trend reversal. They pointed out that infrastructure construction for artificial intelligence continues to boost DRAM demand, and storage remains a key bottleneck in AI computing expansion.

Analysis suggests that current DRAM prices have entered a rapid upward channel, with some long-term supply agreements beginning to lock in capacity, pushing the industry from "spot-driven" to "contract-driven," which could reshape the valuation system of the storage industry.

Wolfe Research also noted that demand for AI data centers still far exceeds supply growth, and DRAM and NAND prices may remain high or even further rise over the next few years. Under the constrained supply expansion, the price increase cycle could extend until 2027 or even longer.

However, analysts also warn that historically, storage cycles often lead to oversupply due to supply expansion, and whether the current high prosperity can continue until 2028 still depends on industry capacity discipline and the realization of AI demand. #我的Gate交易时刻