Morgan Stanley analyst turns bearish on storage chips, Citrini analyst suggests it may be one factor in KOSPI's correction

Odaily News, Citrini analyst Jukan stated on X platform that a Morgan Stanley research report circulated in the market shows analyst Shawn Kim has turned bearish on the memory chip industry. The report indicates that NAND module makers' inventory has risen to about 13 weeks, demand has notably cooled, and it expects NAND price increases to slow to around 5% in Q4, with spot prices having fallen for two consecutive months; meanwhile, CXMT is rapidly expanding capacity, and supply-demand dynamics are gradually moving towards balance. The report also points out that if the NAND market weakens, DRAM should also be viewed bearishly, and it forecasts HBM market growth will be limited to around 40%.

Jukan stated that he has verified the report's authenticity with sources and added that Shawn Kim has recently maintained similar views, which may be one reason for the persistent correction in South Korea's KOSPI index in recent weeks.