To The Moon

Memory is now worth more than oil. Staying that way will depend on how much the notoriously volatile industry can make recent changes stick.The world's three largest memory-chip makers -- Samsung Electronics, SK Hynix and Micron Technology -- now carry market capitalizations of more than $1 trillion each. That puts them about 22% above the combined market cap of the world's three most valuable oil companies, even with Saudi Aramco weighing in on its own at nearly $1.8 trillion.Values have soared even further down the memory chain. Flash-memory maker Sandisk has seen its market cap nearly triple since March and is now worth nearly as much as PetroChina -- Asia's largest oil producer.The spending power of artificial intelligence's largest investors means a significant percentage of future memory production will be covered by multiyear contracts with more stable pricing terms. UBS analyst Tim Arcuri estimates that such contracts will cover as much as 30% of shipments of total dynamic rand

$Sandisk(SNDK)$ stock can continue its historic run as memory shortages persist and share buybacks pick up, according to Citi Research.The firm reiterated a Buy rating on the the flash memory...

The stock market is sensitive to everything from the path of interest rates to ominous OpenAI commentary - and now investors are digging more closely into Nvidia's earnings. Nvidia's fiscal third-quarter earnings report came out ahead of Wall Street's expectations, but it failed to give AI stocks a boost.The artificial-intelligence trade was already starting to crack before Nvidia Corp. reported earnings, and upbeat results from the world's largest company weren't enough to flip sentiment.That dynamic highlights growing jitters about factors far beyond Nvidia's control, and sets the market on a bumpy path for the balance of 2025.That wasn't to be. Shares of Nvidia and other AI plays opened the next session higher but closed meaningfully lower by the end of the day. For momentum-oriented names like Sandisk Corp. , which had run up big on optimism for AI-related storage needs, the declines were especially dramatic.Nvidia "has been taking in hefty prepayments from customers and then reco