Morgan Stanley says AI memory prices may peak in Q4 2026 as NAND inventories rise
SumitGup · x · 2026-07-28
Morgan Stanley is warning that the AI-fueled memory boom may be nearing a structural turn.
- The note says memory contract prices could peak in Q4 2026.
- It points to slowing net earnings upgrades, from 92% to 77%, and rising NAND inventories at 13 weeks.
- The core takeaway: AI inference demand is real, but memory remains a cyclical business.
The post also notes that SanDisk and broader memory names were already sliding after the warning.
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