Bank of America: U.S. Memory Stock Valuations Have Shown Cyclical Bottom Characteristics, Market Concerns Overdone

Odaily: Bank of America believes that the recent correction in U.S. memory stocks has largely decoupled from fundamentals, valuation multiples have bottomed, and the market's concerns about the AI memory boom turning to bust are excessive. The bank expects that average selling prices, revenue, and profit margins for memory chips will remain at super-cycle levels from 2027 to 2028, and even if earnings growth slows, absolute levels will remain near historical highs. (Cailian Press)