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Marvell Technology Valuation Analysis Post AI Chip Market Decline

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Raji Sohi
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Never miss an important update on your stock portfolio and cut through the noise. Over 7 million investors trust Simply Wall St to stay informed where it matters for FREE.

Marvell Technology (MRVL) is back in focus after its stock declined alongside other chipmakers, as a cooling AI infrastructure rally, hotter April US inflation data, and higher oil prices weighed on sector sentiment.

See our latest analysis for Marvell Technology.

Even after the recent pullback, the stock’s 30-day share price return of 28.03% and 90-day share price return of 102.24% point to strong upward momentum. The 1-year total shareholder return of 151.90% and 5-year total shareholder return of 295.10% reflect how much sentiment has shifted over a longer horizon.

If you are watching how AI infrastructure stocks react to swings in sentiment, it can be helpful to compare Marvell with other chip-related opportunities using the 39 AI infrastructure stocks

After such strong recent returns and with the stock trading above the average analyst price target, the key question is whether Marvell is now overextended or if the market is still underestimating its AI infrastructure earnings power.

Most Popular Narrative: 18% Overvalued

Marvell’s most followed narrative points to a fair value of $140 per share, compared with the last close at $164.50, so it frames the current AI optimism as already more than fully reflected in the price.

Marvell has built something genuinely rare in semiconductors: a full-stack platform that coverscustom chip design, high-speed optical interconnect, silicon photonics, and memory switching, all converging on the single biggest infrastructure build-out of the current decade.

NVIDIA’s $2B investment is not a customer relationship. It is a vote of confidence from theworld’s most informed AI infrastructure buyer that Marvell’s technology platform is the rightfoundation for the next generation of AI factories.

Read the complete narrative.

Want to see how this narrative gets to a premium price on 2028 earnings power and future margins without relying on today’s hype multiples? The full write up walks through projected revenue scale, profitability assumptions and the earnings multiple that together produce that $140 figure, plus how those inputs compare with management guidance and market expectations.

Result: Fair Value of $140 (OVERVALUED)

Have a read of the narrative in full and understand what’s behind the forecasts.

However, you still need to watch for an AI capex slowdown or an Amazon Trainium shift that weakens custom ASIC growth and challenges this whole fair value story.

Find out about the key risks to this Marvell Technology narrative.

Another View: Multiples Tell a Harsher Story

That user narrative pegs fair value at $140 per share, yet Marvell trades on a P/E of 53.9x versus a US Semiconductor average of 59.6x and a fair ratio of 48.5x. The stock therefore screens cheaper than peers but richer than the level our fair ratio suggests the market could move toward, raising the question of how much valuation risk you are really taking at $164.50.

See what the numbers say about this price — find out in our valuation breakdown.

NasdaqGS:MRVL P/E Ratio as at May 2026

Next Steps

Given the mix of enthusiasm and caution across these views, it can be helpful to act promptly. Review the numbers yourself and decide where you stand, starting with the 3 key rewards and 2 important warning signs.

Looking for more investment ideas?

If you stop at a single stock, you risk missing opportunities that better fit your goals, risk tolerance, and income needs across the market.

  • Target quality at a discount by reviewing companies highlighted in the 44 high quality undervalued stocks that combine solid fundamentals with pricing that may not fully reflect them.

  • Strengthen your downside protection by scanning the 69 resilient stocks with low risk scores designed to surface stocks with more resilient risk profiles.

  • Boost your income potential by assessing the 13 dividend fortresses focused on companies with higher dividend yields and a focus on stability.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include MRVL.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com



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Crypto Crash: How the Recent Market Volatility is Reshaping Investment Strategies

By
Raji Sohi
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Crypto Crash: How the Recent Market Volatility is Reshaping Investment Strategies

The cryptocurrency market has been known for its rapid price fluctuations, but the recent crash has left investors reeling. The question on everyone’s mind is: how should one adapt their investment strategies in response to this volatility?

The Current State of the Market

As of October 2023, major cryptocurrencies like Bitcoin and Ethereum have experienced significant downturns, erasing billions in market capitalization. Several factors have contributed to this downturn:

  • Regulatory changes across various countries.

  • High-profile hacks and security breaches.

  • Macroeconomic factors, including inflation and rising interest rates.

  • Panic selling due to fear of further declines.

Lessons from the Crash

The recent volatility has taught us several important lessons:

  • Diversification is Key: Relying on a single asset class can be risky. Investors are realizing the importance of diversifying their portfolios to include a mix of assets.

  • Risk Management: Adopting strict risk management strategies can help minimize losses. Tools like stop-loss orders are gaining popularity.

  • Long-term vs. Short-term: A focus on long-term investment strategies appears to be more resilient against daily fluctuations.

  • Staying Informed: Awareness of market trends and news can provide crucial context for making informed investment decisions.

Adapting Investment Strategies

As the landscape changes, investors are adapting their strategies accordingly:

  • Increased Research: Investors are spending more time researching projects before committing funds, looking at fundamentals rather than just price action.

  • Institutional Investment: The entrance of institutional investors is slowly bringing more stability to the market.

  • Hedging Strategies: Using financial instruments to hedge against losses is becoming more common.

  • Exploration of Alternative Assets: Many are exploring decentralized finance (DeFi), non-fungible tokens (NFTs), and other emerging sectors within the cryptocurrency space.

Conclusion

The cryptocurrency market is volatile, and its fluctuations can be disheartening. However, discerning investors are using this moment to refine their strategies and embrace a more resilient investment approach. With careful consideration and informed decision-making, the future of cryptocurrency investment remains promising.

Essential Guide to Watching Roland-Garros 2026

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Raji Sohi
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Broad international exposure

Following a particularly successful first year, Warner Bros.Discovery is continuing its ambitious coverage of the Parisian Grand Slam in the US, including the day’s best matches on TNT, full coverage on Max, a daily multiplex on TruTV and dedicated content for digital platforms Bleacher Report and House of Highlights. CNN will also be promoting the tournament in the US. Warner Bros.Discovery will have several TV studios at Roland-Garros, including one located in the heart of the stadium in the Jardin des Mousquetaires.

Roland-Garros will continue to be broadcast around the world, including in more than 50 countries in Europe on Eurosport, in China on CCTV, in South America and Latin America on ESPN, in the Middle East, North Africa and Southeast Asia on beIN Sports, in Japan on Wowow, in India on Sony and in Australia on Nine and Stan. The FFT is also pleased to welcome Tencent as the tournament’s new digital broadcaster in China for the next three editions, from 2026 to 2028.



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How to Watch the Premiere of ‘Regular Show: The Lost Tapes’

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Raji Sohi
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Updated May 11, 2026, 12:46 p.m. ET



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The Rise of AI: How Machine Learning is Reshaping Our Lives

By
Raji Sohi
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The Rise of AI: How Machine Learning is Reshaping Our Lives

In recent years, Artificial Intelligence (AI) has transitioned from theoretical concepts to a tangible element of everyday life. Among the various technologies under the AI umbrella, machine learning stands out as a powerful tool that is fundamentally reshaping industries, improving efficiency, and enhancing our daily interactions. This article takes a closer look at how machine learning is influencing various facets of our lives.

<h2>The Basics of Machine Learning</h2>

<p>Machine learning is a subset of AI that enables computers to learn from and make predictions based on data. Unlike traditional programming, where explicit instructions are coded to perform tasks, machine learning algorithms analyze patterns in data to improve their performance over time. This ability to learn from data and adapt is what makes machine learning exceptionally powerful.</p>
<h2>Transforming Industries</h2>

<p>Machine learning is revolutionizing several industries, including:</p>

<ul>

    <li><strong>Healthcare:</strong> From diagnosing diseases to personalizing treatment plans, machine learning algorithms analyze patient data to provide insights that doctors may miss.</li>

    <li><strong>Finance:</strong> Algorithms detect fraudulent activities and assess risks by analyzing customer behaviors and transaction patterns.</li>

    <li><strong>Retail:</strong> Personalized shopping experiences are crafted through predictive analytics, which suggest products based on consumers’ previous purchases and behaviors.</li>

    <li><strong>Transportation:</strong> Autonomous vehicles rely heavily on machine learning to process real-time data from their surroundings, enhancing safety and efficiency on roads.</li>

</ul>
<h2>Enhancing Daily Life</h2>

<p>Machine learning isn't just restricted to industries; it is woven into the fabric of our daily lives:</p>

<ul>

    <li><strong>Smart Assistants:</strong> Virtual assistants like Siri and Alexa utilize machine learning to understand and respond to voice commands more accurately.</li>

    <li><strong>Social Media:</strong> Algorithms personalize the content users see, allowing platforms to curate feeds based on individual interests and interactions.</li>

    <li><strong>Streaming Services:</strong> Services like Netflix and Spotify utilize machine learning to recommend shows, movies, and music based on user preferences.</li>

</ul>
<h2>Challenges and Ethical Considerations</h2>

<p>Despite its numerous benefits, the rise of machine learning brings along challenges. Issues of data privacy, algorithmic bias, and transparency need to be addressed. As the technology continues to advance, it is crucial to ensure that it is used ethically and responsibly to benefit society as a whole.</p>
<h2>The Future of Machine Learning</h2>

<p>As we look ahead, the potential of machine learning appears limitless. From enhancing customer experiences to solving complex global challenges, the technology is set to play an increasingly integral role in our lives. Continuous advancements in algorithms, data availability, and computational power will only accelerate its growth and application.</p>
<p>In conclusion, as machine learning reshapes our lives—from how we interact with everyday technology to how industries operate—understanding its implications will be key. Embracing this transformation with awareness and integrity can help ensure a future where AI operates in harmony with humanity.</p>

Tim Duncan Celebrates Coaching Debut with Spurs Victory in San Antonio

By
Raji Sohi
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Tim Duncan shocked the NBA world by making his first head coaching appearance tonight. The San Antonio Spurs legend stepped behind the bench in Charlotte while Gregg Popovich attended to personal business. In a thrilling finale, Duncan’s squad edged the Hornets with a stunning 104-103 victory that had fans and analysts celebrating this historic coaching moment.

🔥 Quick Facts

  • Coaching Debut: Tim Duncan coached his first NBA game as head coach on May 12, 2026
  • Final Score: Spurs 104, Hornets 103 in thrilling one-point victory
  • Location: Game played in Charlotte, North Carolina
  • Returning Coach: Gregg Popovich expected back for Friday’s Brooklyn game

The Big Fundamental Takes Command

One of basketball’s greatest players just became one of its newest coaches. Tim Duncan, who spent 19 legendary seasons with the Spurs, finally stepped into a head coaching role tonight after years of serving as an assistant coach. The transition was seamless, proving that Duncan’s basketball IQ translates perfectly from the court to the sidelines. His calm demeanor and mastery of fundamentals were on full display as he navigated his first game with poise.

The Spurs responded to their new leader’s presence with intensity and purpose. Despite Popovich being absent for personal reasons, Duncan commanded the locker room respect earned through his historic playing career. Players trusted his adjustments, his rotations, and his vision for winning basketball.

A Thrilling Finish in Charlotte

What unfolded in Charlotte felt like classic Duncan coaching, even in his first outing. The Spurs faced a Hornets team hungry for victory, but San Antonio refused to buckle under pressure. Down to the final moments, the game remained razor-tight, with both teams trading possessions in a tense back-and-forth battle.

The 104-103 final score barely tells the story of the defensive intensity and execution on display. Every possession mattered, every timeout was strategic, and every decision Duncan made proved why the Spurs organization trusted him with this responsibility, even on short notice.

Historic Milestone for the Spurs Legend

Milestone Detail Information
Coach Name Tim Duncan
Date of Debut May 12, 2026 (Tuesday night)
First Game Result Win, 104-103 over Charlotte
Interim Role Filling in for Gregg Popovich

Duncan’s entry into coaching has been anticipated for years. After retiring as a player in 2016, he joined the Spurs coaching staff as an assistant, bringing his legendary presence and unmatched basketball knowledge to younger players. Tonight’s game revealed that he’s ready for any role the organization asks of him, whether it’s guidance from the sidelines or full control of game management.

The Spurs organization showed complete faith by simply handing him the keys to lead this team to victory against a competitive opponent. That confidence was repaid with a clutch performance and a win that will be remembered as a turning point in basketball history.

“Tim Duncan made his head coaching debut Tuesday night in Charlotte in place of Gregg Popovich, who missed the game to attend to personal business.”

— NBA.com, Official NBA News

What’s Next for the Spurs and Their Legend Coach

Gregg Popovich is expected to return to the bench for the Spurs‘ next matchup on Friday night in Brooklyn at 7:30 PM ET, according to NBA League Pass information. However, Duncan’s successful debut opens new possibilities for his future. Whether this was a one-game interim role or the beginning of something bigger, the Spurs organization now knows their Hall of Famer is ready for the challenge.

Fans and analysts will be watching closely to see how Duncan transitions into a potential larger coaching role. His playing legacy includes five NBA championships, countless records, and a reputation for pure basketball excellence. Tonight proved that leadership ability transfers just as powerfully from the court to the sidelines for one of the game’s greats.

Will Tim Duncan’s Coaching Debut Lead to a Permanent Role in San Antonio?

The biggest question emerging from this historic night is whether Duncan’s successful debut signals a larger change for the Spurs organization. With Popovich sidelined for personal reasons and Duncan stepping up seamlessly, the franchise has proven it has a capable leader ready for bigger responsibilities whenever needed.

Whether this remains a special circumstance or evolves into something permanent, Tim Duncan’s first game as a head coach will be remembered as a success. A one-point win against a tough opponent, perfect execution under pressure, and the unmistakable presence of a basketball legend calling the shots from the sidelines. The Spurs have always trusted in excellence, and tonight, Duncan delivered exactly that.

Sources

  • NBA.com – Official coverage of Tim Duncan’s head coaching debut and final game score
  • ESPN Sports – Play-by-play analysis and coaching performance metrics
  • San Antonio Spurs – Organizational statements on Popovich’s absence and Duncan’s interim role

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Top 10 Cryptocurrencies to Watch in 2024

By
Raji Sohi
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Top 10 Cryptocurrencies to Watch in 2024

As the cryptocurrency market continues to evolve, several digital currencies stand out for their potential growth and innovative uses. Here are the top ten cryptocurrencies to monitor in 2024:

  • 1. Bitcoin (BTC)

    The first and largest cryptocurrency by market cap, Bitcoin continues to be a safe haven in the crypto world and is regarded as digital gold.

  • 2. Ethereum (ETH)

    Known for its smart contract functionality, Ethereum aims to enhance its scalability and transaction speed in 2024, making it a top contender.

  • 3. Binance Coin (BNB)

    With the growth of the Binance exchange, BNB remains integral for trading fees and various services, showing resilience and potential for further growth.

  • 4. Cardano (ADA)

    Your attention should be on Cardano as it focuses on sustainability and scalability, and has impressive development activity on its platform.

  • 5. Solana (SOL)

    With its high throughput capacity and lower transaction costs, Solana is making waves in the decentralized app space and is likely to grow even more.

  • 6. Polkadot (DOT)

    Polkadot aims to enable different blockchains to transfer messages and value in a trust-free fashion; its interoperability solutions are gaining traction.

  • 7. Chainlink (LINK)

    Chainlink’s role as a decentralized oracle network makes it crucial for smart contracts that need real-world data, positioning it as highly relevant.

  • 8. Avalanche (AVAX)

    A rising star in the DeFi space, Avalanche boasts impressive transaction speeds and a robust platform for decentralized applications.

  • 9. Litecoin (LTC)

    Often referred to as the silver to Bitcoin’s gold, Litecoin remains popular for its speed and efficiency in handling transactions.

  • 10. Shiba Inu (SHIB)

    Originally started as a meme coin, Shiba Inu is gaining serious traction and community support, focusing on future utilities and projects.

As we move into 2024, keeping an eye on these cryptocurrencies could offer valuable insights for investors and enthusiasts alike. Always do your own research and consider the market’s volatility before making any investment decisions.

Showdown of Interim Managers: Phillies vs. Red Sox

By
Raji Sohi
-


The Phillies and Red Sox have been running on parallel tracks all season, one in the National League and one in the American League. Both expected to contend. Both stumbled badly enough to dismiss their managers before the start of May. And both are now trying to work their way back into contention.

It’s a rare convergence of teams led by interim managers. According to the Elias Sports Bureau, this will be the first time since 2002 that two teams have met within their first 45 games, both with a different manager than they had on Opening Day. It’s happened only four times previously in the Modern Era (since 1900), and unlike the Phillies and Red Sox, none of the clubs involved were coming off postseason berths the year prior.

Both the Phillies and Red Sox have played better since their managerial changes. Taking advantage of a soft part of its schedule, Philadelphia has gone 10-3 since it replaced Rob Thomson with interim manager Don Mattingly and sits at 19-22 entering its series against Boston. The Red Sox, meanwhile, have gone 7-6 since interim manager Chad Tracy took over for Alex Cora and are 17-23 overall.

At this juncture, FanGraphs views the Phillies as a much better bet to reach the postseason. Their playoff odds through Sunday were 54.9%, compared to just 30% for the Red Sox. But the Red Sox aren’t without hope.

Depending on what you value most, there’s a case to be made for either team.

The case for the Phillies: They have the better roster

While both of these teams have their share of flaws, the Phillies’ roster clearly has a much stronger foundation right now, as well as a higher ceiling.

(10 HR, 159 wRC+), (16 HR, 161 wRC+) and (2.11 ERA, 10.9 K/9) were expected to be three of the Phillies’ top players this season, and they’ve lived up to the billing amid the club’s slow start.

has looked good, too, since returning from thoracic outlet decompression surgery on April 25. He’s recorded a 3.12 ERA with 18 strikeouts, six walks and one homer allowed over 17 1/3 innings.

If you were conducting a draft strictly for the rest of this season, without taking contracts or long-term outlook into account, you can make a case that all four of those Phillies should go before the first Red Sox player is picked.

The Red Sox’s best hitters this season have been (8 HR, 135 wRC+) and (6 HR, 134 wRC+), while former Phillies starter has anchored their rotation with a 2.77 ERA over 39 innings.

Those are solid numbers, but Contreras, Abreu and Suarez are the kind of players who are best suited to be supporting pieces on a contender — not as its premier performers.

The case for the Red Sox: They have an easier path to the playoffs

For all that’s gone wrong this season, the Red Sox can take solace in the fact that they aren’t terribly far out of the playoff race in what has been a tumultuous year for the AL as a whole.

While Boston is facing a sizable AL East deficit — 9 1/2 games behind the Rays and 8 1/2 behind the Yankees — just two games separate the Red Sox from the Rangers and White Sox, who currently possess the final two AL Wild Card spots with identical 19-21 records.

In fact, the Rays (26-13), Yankees (26-15) and Athletics (21-19) are the only AL teams above .500, and every team besides Tampa Bay (+20) and New York (+73) has a run differential of +4 or worse.

Although the Phillies’ 4 1/2-game deficit in the NL Wild Card race may not sound significantly larger than Boston’s, it’s looking like it’s going to be much tougher to nail down a Wild Card spot in the NL.

All three NL division leaders and the top five teams in the Wild Card standings currently have a winning percentage of .537 or higher, and five of those clubs have a run differential of +31 or better. That could be problematic for a Philadelphia club that is nine games behind the first-place Braves in the NL East and will likely need a Wild Card berth to make the postseason.



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Cryptocurrency Investment: Risks and Rewards for the Modern Investor

By
Raji Sohi
-


Cryptocurrency Investment: Risks and Rewards for the Modern Investor

Cryptocurrency has emerged as a pivotal asset class in the modern financial landscape. With the meteoric rise of Bitcoin, Ethereum, and countless altcoins, many investors are enticed by the potential for substantial returns. However, the cryptocurrency market is fraught with risks that require careful consideration.

Understanding Cryptocurrency

Cryptocurrency is a digital or virtual currency that uses cryptography for security. Unlike traditional currencies, cryptocurrencies operate on decentralized networks based on blockchain technology. This ensures transparency and security, but also introduces unique volatility and risks.

The Rewards of Investing in Cryptocurrency

  • Potential for High Returns: The most attractive aspect of cryptocurrency investing is the potential for significant returns. Many early adopters of Bitcoin and other cryptocurrencies have seen their investments multiply exponentially.

  • Diverse Investment Opportunities: The cryptocurrency market offers a broad range of investment options—from established coins like Bitcoin and Ethereum to emerging altcoins and decentralized finance (DeFi) projects.

  • Decentralization and Security: Many investors are drawn to the decentralized nature of cryptocurrencies, which reduces reliance on traditional financial institutions and offers a level of anonymity and security.

  • Growing Adoption: As more businesses and institutions adopt cryptocurrency, the demand and usability of these assets continue to grow, potentially leading to increased value.

The Risks of Investing in Cryptocurrency

  • Volatility: The cryptocurrency market is notoriously volatile, with prices capable of experiencing dramatic swings in short periods. This can lead to significant losses.

  • Regulatory Risks: Governments worldwide are still catching up with the rapid evolution of cryptocurrency, and any regulatory changes could impact the market severely.

  • Security Concerns: Despite the security of blockchain technology, cryptocurrency exchanges and wallets have become targets for hacking, leading to potential loss of funds.

  • Lack of Understanding: Many investors are still unfamiliar with how cryptocurrencies work. A lack of knowledge can lead to poor investment decisions and increased risk.

Strategies for Successful Investment

To navigate the cryptocurrency landscape effectively, investors should consider the following strategies:

  • Education: Stay informed about market trends, technological developments, and regulatory news. Understanding the fundamentals of cryptocurrencies is crucial.

  • Diversification: Don’t put all your funds into one coin. Diversifying your investment portfolio across various cryptocurrencies can mitigate risk.

  • Long-Term Perspective: Many investors benefit from adopting a long-term strategy, allowing them to weather short-term volatility.

  • Invest what you can afford to lose: Given the high-risk nature of cryptocurrencies, only invest money that you can afford to lose without impacting your financial stability.

Conclusion

Cryptocurrency investment offers a unique opportunity for growth in an evolving financial landscape. While the potential rewards are enticing, the inherent risks demand careful consideration and strategic planning. For modern investors, understanding both the risks and rewards is paramount to navigating this exciting yet unpredictable market successfully.

© 2023 Cryptocurrency Insights. All rights reserved.

Micron Propels DRAM to Record $6.5 Billion ETF Milestone

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Raji Sohi
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The Micron-led Roundhill Memory ETF (DRAM) just reached $6.5 billion in assets in 36 days, making it the fastest ETF to hit that mark and beating the early 2024 bitcoin ETF boom, according to Bloomberg Intelligence ETF analyst Eric Balchunas.

BlackRock’s iShares Bitcoin Trust ETF (IBIT) took 43 days to reach $6.5 billion, while Fidelity’s Wise Origin Bitcoin Fund (FBTC) took 51 days.

DRAM rockets to $6.5 billion in assets faster than any other ETF. · Bloomberg, Yahoo Finance

The ETF has also nearly doubled out of the gate. Balchunas said Monday after the bell that DRAM was up 98% since launching five weeks ago, calling it “easily the best perf ETF out of the gate,” while also noting it was the seventh-most-traded ETF Monday with $4.5 billion in volume.

That makes the AI memory trade one of the hottest ETF stories on Wall Street in the post-pandemic era — and a major acceleration from last week’s surge, when DRAM was barely a month old.

The fund’s latest jump in assets came as DRAM soared 13% Friday and pulled in another $1 billion in inflows, according to Balchunas. In early trading Tuesday, both DRAM slipped as the memory trade cooled after Monday’s surge.

Micron makes up 27% of DRAM — barely edging out SK Hynix (000660.KS) at 26% and Samsung Electronics (005930.KS) at 20%, according to the fund’s latest holdings. Sandisk (SNDK), Kioxia (285A.T), Seagate Technology (STX), and Western Digital (WDC) round out the next tier.

Micron closed at a fresh record Monday, its 26th record close of the year, before pulling back Tuesday. The stock was down 3.5% in early trading, tracking its worst day in two weeks.

That’s also where the bull case gets interesting.

The concentration of the ETF is the point. DRAM is a focused bet on the memory supply chain, where investors are treating DRAM, storage, and high-bandwidth memory as critical pieces of the AI build-out.

In a Monday note, D.A. Davidson analysts argued that investors are still underestimating “the new math of memory in the AI age,” writing that “the bigger the models, the more memory they require.”

The note explains that longer AI context lengths — essentially how much information a model can process at once — create a cycle of more memory demand, better models, and still more memory needs.

But that same setup cuts both ways.

Memory has a long history of boom-bust cycles, and even the bullish D.A. Davidson note flagged the risk directly. The firm warned that the industry is “historically prone to booms and busts” and that weaker demand as Micron expands capacity could lead to oversupply and lower memory prices.

Nevertheless, the firm reiterated a Buy rating on Micron and a $1,000 price target — about 34% above Friday’s close.



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