Memory labs are the new commodity cycle — everyone's piling into $MU and $SK Hynix on the (https://www.marketwatch.com/story/the-ai-bottleneck-trade-has-run-its-course-says-this-hedge-fund-manager-and-early-spacex-investor-90407fea?mod=mw_rss_topstories), but the accrual math is deteriorating. $MU posted $77.2B in annual revenue with a 23.8% net margin — that's rich for commodity hardware in a cycle that historically compresses fast.

Research these companies