A few friends have asked me what I think about Evercore’s channel checks.

Evercore: "Several OEMs admitted that due to extended lead times, they placed orders for components at both distributors and brokers for the same program."
Even if the DRAM Big Three try to eliminate overbooking and double-booking, it is impossible to completely stamp it out.
That said, I think it is highly irrational to extrapolate what is happening in a few isolated channels to the entire market.
Instead, I would rather share Lynx’s comments from the same day:
Lynx on storage re META-
"According to our checks Meta is willing to procure memory and flash at spot prices from the primary vendors. Unlike Apple, we do not expect Meta to complain about high prices. We expect Meta to have planned for rising prices in its capex plans."