Svmuu News: Citrini analyst Jukan posted on X that a Morgan Stanley research report circulating in the market indicates analyst Shawn Kim has turned bearish on the memory chip industry.The report notes that inventory levels at NAND module manufacturers have risen to approximately 13 weeks, demand has cooled significantly, and NAND price growth is expected to slow to about 5% in the fourth quarter, with spot prices having fallen for two consecutive months. Meanwhile, CXMT (CXMT) is rapidly expanding its production capacity, and supply and demand are gradually moving toward equilibrium.The report also notes that if the NAND market weakens, the DRAM market should also be viewed bearishly, and it forecasts that HBM market growth will be capped at around 40%.
Jukan stated that it has verified the report’s accuracy with sources and noted that Shawn Kim has consistently held similar views recently, which may be one of the reasons behind the sustained pullback in South Korea’s KOSPI index in recent weeks.