Morgan Stanley analysts turn bearish on storage; Citrini analyst suggests it may be one factor behind KOSPI's correction

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

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