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At this stage, Xiaomi is essentially shorting SK Hynix at 1x leverage.
This isn’t just a joke. Because storage is too expensive, and all the costs are passed on to phone manufacturers.
With the exception of Apple, other consumer electronics are in free fall.
As long as storage doesn’t recover, consumer electronics won’t have a future.
Buying Xiaomi now is like shorting SK Hynix at 1x leverage.