受供应短缺持续至 2027/2028 年的推动，存储板块（如 MU）具备强劲的投资逻辑，风险回报比有利。
逐段跳播
内存。稍微提醒一下。内存这一块的情况正变得非常紧张，到2027年的产能已经全部售罄。价格正在飞涨。市面上的内存根本不够，而且没有办法把它造出来，供应紧张可能还会持续。如果某个客户去下单100亿美元的内存，能拿到一半就算走运了。
而且还有大量供货合同没有履约。这就是为什么如果你有紧密的关系、又是像Elon Musk这样的大玩家，从这些厂商那里订购海量内存——他在几个月前的一次公开电话会上直接感谢了Micron，因为他们满足了他的需求。
但其他所有玩家都没能得到满足，因为他们没有预见到这场供应紧缺。再说一次，内存不会消失。所以故事的一部分是，如果你在考虑投资CoreWeave、Blue Owl、Blue Ocean以及其他随便什么，还有Oracle，那就直接投内存。
风险回报比高得离谱，至少目前是这样。我们一路观察到2028年。
Memory. Uh, a little bit of a reminder. Things are getting desperate in the memory front of absolutely sold out into 2027. Prices are going through the roof. There simply isn't enough memory out there and there's no way of making it and tightness may last.
If a customer goes and orders 10 billion dollars worth of memory, they'll be lucky if they get half of that order. And there are tons of supply contracts that are unfulfilled. That's why if you have a close relationship and you're a big player like an Elon Musk ordering a crap ton of memory from these players, he said in a public call a few months ago, he thanked Micron directly because they are fulfilling his need.
But all the other players aren't getting their need fulfilled because they didn't have the foresight around the supply crunch. Again, memory is not going away. So part of the story is if you're thinking about investing in the core weaves and the blue owls and the blue oceans and whatever else out there, the oracles, just invest in memory.
The risk reward is insane, at least for now. Let's watch this through 2028.
观察点
这个频道对 $MU 的历次判断
InvestAnswers 在这只股票上共 6 条判断，这里只列相邻的几条。