In the downstream of the storage market, NVIDIA, Microsoft, Google, Meta, and Apple account for a considerable proportion.

Among them, NVIDIA will further steer toward Microsoft, Meta, Amazon, and Google.
And these guys have already been falling for several weeks in a row.
With storage performance exploding and a supply-demand mismatch, downstream costs have been severely squeezed.
Today, Apple’s announcement of a price increase is an even worse signal—the cost pressure is further passed on to the consumer end. Cost-driven price hikes will inevitably weaken demand and overall welfare, putting additional pressure on companies further down the industry chain.
Under the dual constraints of costs and end-market demand, it’s only a matter of time before downstream companies reach a critical point.
So, Gul’dan, what’s the cost?