半导体：为美国内存股辩护-Semiconductors-A defense of US memory stocks

March 26, 2026 04:01 AM GMT A defense of US memory stocks We see the recent selloff as a healthy pricing in of durability concerns - capex, demand destruction, productivity etc. - and yet we see the strength as more durable than the market thinks, with memory supply remaining a gating factor for AI. Reiterate OW on MU, SNDK. Key Takeaways As we highlighted before Micron earnings last week, it has been clear that there is very positive sentiment on near term results, and very low conviction about the durabil ...