Bernstein Research

Morgan Stanley warned that the memory cycle will enter its late stage in the fourth quarter as price increases moderate and inventories build, signaling a potential end to the AI-driven memory price b…

Memory stocks like SK Hynix, Sandisk, and Micron Technology trade at price-to-earnings multiples in the bottom 20% of the S&P 500 as of June 30, 2026, despite surging demand from AI data centers. SK H…