Is the storage sector really at the bottom, or is it brewing the next round of a selloff?

Based on US stock market data, the pullback in the sector’s leading stocks looks substantial.
The market’s FOMO sentiment is still going strong.
People say to buy when no one is paying attention—but I have a hunch it may fall further.
In my view, the real bottleneck in the storage space isn’t “whether there are storage demands,” but rather:
Whether AI data centers can keep expanding capital expenditure;
Whether HDD capacity upgrades and HAMR can scale up smoothly;
How long NAND/DRAM price hikes can last;
Whether current profitability has already been priced in and is effectively exhausting growth for the next two to three years.
A market rebound may take some time, and I don’t recommend that everyone lever up.