For me, the key question is how sustainable these margins are. I will watch DRAM/HBM pricing, new capacity and whether hyperscalers push harder on costs. In a cyclical industry, stocks can peak before earnings do.
I am not calling the cycle over yet because AI infrastructure demand remains strong. However, I would stay selective rather than chase record earnings. If demand keeps outpacing supply, the cycle could last much longer.
@Tiger_comments @Marktomarket @TigerStars @TigerClub @Tiger_SG
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- Christianaa·10-09 01:12Capex is where I’d stare next. If new HBM capacity is fully online before Q3, margin durability gets tested fastLikeReport
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