Morgan Stanley shifts investment logic for memory chips: DRAM prioritized over NAND, chip manufacturers prioritized over module manufacturers.

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Morgan Stanley Shifts Memory Chip Investment Logic: DRAM Over NAND, Chipmakers Over Modular Firms
According to Morgan Stanley's July 2 report, NAND flash demand is projected to grow 60% annually through 2027, driven by AI applications, which will account for 41% of total NAND market by 2027—up from 18% in 2025. However, the bank expects a 15% supply shortage in 2026, signaling structural market
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