Morgan Stanley analyst turns bearish on storage; Analyst Citrini says it may be one of the factors behind a KOSPI pullback

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ME News, July 24 (UTC+8) — Analyst Jukan on X said that a Morgan Stanley research report circulating in the market indicates that analyst Shawn Kim has turned bearish on the storage chip industry. The report suggests that NAND module makers’ inventory has risen to about 13 weeks, demand has cooled significantly, and it expects the NAND price increase in Q4 to slow to around 5%; spot prices have also been falling for two consecutive months. At the same time, ChangXin Memory Technologies (CXMT) is rapidly expanding capacity, and supply and demand are gradually moving toward balance. The report also notes that if the NAND outlook weakens, DRAM should also be viewed as bearish in tandem, and it expects HBM market growth to be limited to about 40%. Jukan said he has verified the report’s authenticity with insiders and added that Shawn Kim has held a similar view recently, which may be one of the reasons the South Korean KOSPI index has continued to retreat over the past few weeks. (Source: ODAILY)
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