Everyone is hoping for a “dead storage” situation, but the reality is: if storage keeps falling, then no matter how good other assets’ earnings forecasts are, and no matter how impressive the financial reports are, they can’t beat storage.



Especially in China’s A-share market: even if Geonbuy (江波龙) had a profit growth of, like, 600x—600x isn’t 600%. When everyone sees the storage business’s performance is this strong yet it still drops, and your performance is only doubling, then you shouldn’t be rising. That’s why one company like Hynix can drag down the US, A, and H shares.
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