Feast or Famine: Why Memory Chips Are the Most Cyclical Business in Tech
This week's chip-stock rout after SK Hynix's HBM-to-DRAM pivot looks like noise unless you know the pattern: memory chips have boomed and busted the same way for four decades, from 1980s Japan to the 2008 crash to today's AI supercycle. Here's the structural reason why, and how to read the next head