Serenity: Storage supply and demand structure remains tight, short-term gains do not represent bottleneck breakthroughs
Serenity's article points out that the fundamentals of storage shortages remain unchanged, and market fluctuations only change valuations and narratives. Serenity cites evidence: According to Nikkei, Japanese distributors reported a storage demand gap of 40% to 60%, and prices may rise by another 50% by the end of the year; SpaceX did not take into account the $1.3 trillion capital expenditure of ultra large scale cloud providers, and the total expenditure may exceed expectations; SanDisk expects to maintain a gross profit margin of 80% until 2030; The visibility of orders from companies such as Samsung will be extended until 2031. Serenity emphasizes that storage stocks fluctuate greatly, and the company's operating fundamentals often do not match short-term stock prices. The rebound in stock prices in areas such as optical modules, CW lasers, and substrates does not mean the end of shortages.