全球存储芯片：如何布局 AI 新瓶颈-Global Technology-Memory – How to Play the New AI Bottleneck

January 15, 2026 10:30 PM GMT Global Technology | Europe Memory – How to Play the New AI Bottleneck Memory sits in a capacity-constrained cycle with unusually long order visibility driven by AI inference. For 2026, the risk is execution and transition, not demand. A steeper pricing climb and favourable conditions likely persist through 2027. Multiples have expanded, but we think stock calls can still work with much higher earnings upside from here. Inference becomes a memory challenge, not just compute. Mem ...