Morgan Stanley Analyst Turns Bearish on Storage, Citrini Analyst Suggests It May Be a Factor in KOSPI's Pullback

Odaily Odaily Planet Daily News: Citrini analyst Jukan stated on the X platform that a Morgan Stanley research report circulating in the market shows that analyst Shawn Kim has turned bearish on the memory chip industry. The report suggests that NAND module manufacturers' inventory has risen to about 13 weeks, with demand clearly cooling. It expects NAND price growth to slow to about 5% in the fourth quarter, with spot prices having fallen for two consecutive months. Meanwhile, Changxin Memory Technologies (CXMT) is rapidly expanding production capacity, and supply and demand are gradually balancing. The report also indicates that if the NAND market weakens, DRAM should also be viewed bearishly, and it predicts that the HBM market growth rate will be limited to about 40%.

Jukan stated that he has verified the authenticity of the report with sources and noted that Shawn Kim has consistently held similar views recently, which could be one of the reasons for the recent sustained pullback in South Korea's KOSPI index.