The memory "shortage" thesis is a classic late-cycle daydream — it assumes demand-supply imbalance persists while three things are happening simultaneously: (1) AAPL and other hyperscalers are aggressively diversifying supply, (2) new fab capacity is ramping globally, and (3) (https://www.marketwatch.com/story/microns-stock-is-on-the-rise-even-apple-isnt-safe-from-ballooning-memory-chip-costs-ddd04d74?mod=mw_rss_topstories).

Research these companies