By Debby Wu, Takashi Mochizuki and Yoolim Lee   A growing procession of tech industry leaders including Elon Musk and Tim Cook are warning about a global crisis in the making: A shortage of memory chips is beginning to hammer profits, derail corporate plans and inflate price tags on everything from laptops and smartphones to automobiles and data centers — and the crunch is only going to get worse.   Since the start of 2026, Tesla Inc., Apple Inc. and a dozen other major corporations have signaled that th ...

Hardware and infrastructure stocks have been some of the biggest winners of the AI boom. Is Micron another winner in the making or is it overhyped?Some of the biggest winners of the artificial intelligence (AI) trend have been the hardware and infrastructure companies supporting it, not the software companies developing AI programs.Nvidia is probably the best example. AI's demand for its graphics processing units (GPUs) propelled it into the trillion-dollar club a couple of years ago and into becoming the w ...

分析师指出，存储价格急升，已在全球股市掀起连锁冲击，且影响时间可能比市场预期更久， 电子产业下游企业面临的利润遭挤压的压力或许只是刚开始。 包括埃隆·马斯克和蒂姆·库克在内的越来越多的科技行业领袖警告说，一场全球危机正在酝酿 之中：内存芯片短缺开始重创利润，扰乱企业计划，并推高从笔记本电脑和智能手机到汽车和 数据中心等所有产品的价格——而且这种短缺只会愈演愈烈。 自2026年初以来，特斯拉、苹果以及其他十几家大型企业都表示，DRAM（动态随机存取存储 器）——几乎所有技术的基础组件——的短缺将制约产能。库克警告称，这将压缩iPhone的利 润率。美光科技称这一瓶颈"前所未有"。马斯克则直指问题的棘手之处，他宣布特斯拉将不得 不自建存储器制造厂。 "我们有两个选择：要么遇到芯片瓶颈，要么建一座晶圆厂，"他在一月底说道。 造成这种供应紧张的根本原因在于人工智能数据中心的建设。 一场席卷全球的存储风暴 最近，关于存储危机，已经被广泛讨论。 存储芯片是半导体家族的重要组成部分。它们由硅片制成，用于存储数据并将其传递给处理单元 ——即执行计算的"大脑"。 很少有哪个行业像全球内存行业一样，受到这股迅猛浪潮的影响如此之大 ...

Core Viewpoint - A global shortage of memory chips is emerging, significantly impacting profits, corporate strategies, and prices across various sectors, including consumer electronics and automotive industries. This situation is expected to worsen as demand from AI data centers escalates [1][2]. Group 1: Industry Impact - Major corporations like Tesla and Apple have indicated that the shortage of DRAM will limit production capabilities, with Apple warning of compressed iPhone margins [2][8]. - The demand for memory chips is being driven primarily by AI data centers, with companies like Alphabet and OpenAI consuming a large share of production to support their applications [4][17]. - The price of DRAM has surged dramatically, with one type increasing by 75% from December to January, leading to daily price adjustments by retailers [5][12]. Group 2: Corporate Responses - Companies are adapting to the crisis; for instance, Tesla is considering building its own memory fabrication plant to mitigate supply issues [2][3]. - Sony is contemplating delaying the launch of its next PlayStation console to 2028 or 2029 due to the memory shortage, which disrupts its strategic planning [9]. - Chinese smartphone manufacturers are reducing shipment targets, with Oppo cutting its forecast by up to 20% for 2026 [10]. Group 3: Future Projections - Analysts predict that memory chip prices will continue to rise, with Bernstein's Mark Li stating that prices are going "parabolic," benefiting manufacturers like Samsung and Micron while hurting the broader electronics sector [7][22]. - The demand for high-bandwidth memory (HBM) is expected to increase by 70% year-over-year in 2026, further straining the supply of standard DRAM [19][21]. - The current supply-demand imbalance is projected to persist throughout the year, with significant implications for various industries, including automotive and telecommunications [22][23]. Group 4: Economic Implications - The rising costs of memory chips could lead to DRAM accounting for up to 30% of the bill of materials for low-end smartphones, tripling from 10% in early 2025 [25]. - Companies across the electronics sector are warning consumers to prepare for higher prices, particularly ahead of key midterm elections in the US, where inflation may become a critical issue [25][26].

Core Insights - Renaissance Technologies has significantly increased its investment in Micron Technology (MU), raising its stake by over 50% with an addition of nearly 1.81 million shares, amounting to approximately $520 million in new exposure, bringing the total position to nearly $859 million, making Micron a key holding for the fund [1][4] - The investment comes during a period when Renaissance reduced its stakes in other major tech companies like Nvidia and Alphabet, indicating a strategic shift towards Micron, which has been one of the best-performing tech stocks, with a 231% increase over the past six months and over 73% in the last three months [2][3] - The timing of this investment aligns with a transition in the memory market from oversupply to tightening supply, with rising prices and Micron's guidance suggesting potential margin increases through 2026, driven by the demand for high-bandwidth memory (HBM) related to AI applications [3][4] Company Activity Snapshot - Renaissance Technologies' market value has decreased to $64.5 billion from a prior $75.8 billion, with a net outflow of -14.9% of total market value, indicating a significant shift in investment strategy [7] - The firm made new purchases in 466 stocks, added to 1,030 stocks, sold out of 738 stocks, and reduced holdings in 1,680 stocks, reflecting a dynamic portfolio adjustment [7]

Core Viewpoint - Micron Technology is currently experiencing a cyclical upturn that may last longer than previous cycles, raising questions about its future position in the semiconductor industry compared to Nvidia and Intel [1][2]. Group 1: Company Performance - Micron's revenue increased approximately 57% year-over-year in the first quarter of fiscal 2026, ending November 27, 2025, with adjusted earnings soaring 169% year-over-year to $5.5 billion [5]. - The company has sold out its high-bandwidth memory (HBM) supply for all of 2026, indicating strong demand similar to Nvidia's challenges in meeting GPU demand [4]. Group 2: Market Position and Competition - Micron's market capitalization stands at $463 billion, with a current share price of $411.48, reflecting a significant increase in value over the past year, where its stock price has more than quadrupled [7]. - The competitive landscape includes significant threats from Samsung and SK Hynix, which have substantial market shares in memory chips, raising concerns about Micron's ability to maintain its position [7][8]. Group 3: Future Outlook - There are concerns about Micron's cyclical nature, with fears that a memory supply-demand imbalance could lead to a rapid decline in share price, as evidenced by its forward earnings trading at only 11.8 times [9]. - Despite cyclical concerns, there is speculation that the demand for AI applications will sustain the need for Micron's HBM longer than previous memory chip cycles, potentially positioning Micron more like Nvidia than Intel in the future [12].

Group 1 - Bridgewater, the world's largest hedge fund, disclosed its U.S. stock holdings report (13F) as of the end of 2025 [2] - In Q4 2025, Bridgewater increased its positions in technology stocks such as Micron Technology, Oracle, NVIDIA, and Amazon, as well as in gold stocks like Newman Mining [2] - The fund reduced its holdings in stocks like Google and Microsoft [2]

Group 1 - The core viewpoint of the article is that Bridgewater, the world's largest hedge fund, has disclosed its U.S. stock holdings report as of the end of 2025, indicating significant changes in its investment strategy [1] Group 2 - In Q4 2025, Bridgewater increased its holdings in technology stocks such as Micron Technology, Oracle, NVIDIA, and Amazon [1] - The fund also increased its investment in gold stocks, specifically Newman Mining [1] - Conversely, Bridgewater reduced its positions in stocks like Google and Microsoft [1]

Companies that make semiconductor manufacturing equipment are poised to benefit from the expansion of production capacity to support generative artificial-intelligence technology. - MarketWatch photo illustration/iStockphoto Artificial-intelligence mania has seemingly disrupted the normal order of the typically cyclical semiconductor industry. And with chip makers adding capacity to meet surging demand, those who make semiconductor capital equipment — known as semicap makers — appear positioned to benefit ...

Micron Technology, Inc. (NASDAQ:MU) is one of the AI stocks currently on Wall Street’s radar. Intensifying DRAM shortages and sharp DDR5 pricing momentum have pushed memory stock Micron back into Wall Street’s spotlight, reshaping the outlook for the semiconductor memory market. On February 11, Morgan Stanley analyst Joseph Moore raised the price target on Micron Technology to $450.00 (from $350.00) while maintaining an “Overweight” rating. “As much as happened in the last 12 months in DRAM, we remain ex ...