Hardik Shah
2026.06.25 01:35

๐Ÿ“Š ๐ˆ๐๐•๐„๐’๐“๐Ž๐‘ ๐๐Ž๐“๐„: Morgan Stanley Says Kioxia Signals Storage Industry "Supercycle" - $Micron Tech(MU.US) $Sandisk(SNDK.US) $Apple(AAPL.US) $Dell Tech(DELL.US)

๐Ÿ‘‰ ๐Š๐ž๐ฒ ๐‡๐ข๐ ๐ก๐ฅ๐ข๐ ๐ก๐ญ๐ฌ:

โžค ๐Œ๐จ๐ซ๐ ๐š๐ง ๐’๐ญ๐š๐ง๐ฅ๐ž๐ฒ says Kioxia's results signal an accelerating ๐ฌ๐ญ๐จ๐ซ๐š๐ ๐ž ๐ฌ๐ฎ๐ฉ๐ž๐ซ๐œ๐ฒ๐œ๐ฅ๐ž.

โžค ๐€๐ฉ๐ฉ๐ฅ๐ž revenue to Kioxia surged ๐Ÿ“๐Ÿ–% YoY to ๐‰๐๐˜ ๐Ÿ’๐Ÿ•๐Ÿ” ๐›๐ข๐ฅ๐ฅ๐ข๐จ๐ง.

โžค Apple's growth outpaced Kioxia's ๐Ÿ‘๐Ÿ•% revenue growth, suggesting ๐ฉ๐ซ๐ž๐ž๐ฆ๐ฉ๐ญ๐ข๐ฏ๐ž ๐ฌ๐ญ๐จ๐œ๐ค๐ฉ๐ข๐ฅ๐ข๐ง๐ .

โžค Kioxia significantly increased ๐ซ๐š๐ฐ-๐ฆ๐š๐ญ๐ž๐ซ๐ข๐š๐ฅ inventories, primarily to secure DRAM for SSD production.

โžค Total inventory rose to ๐‰๐๐˜ ๐Ÿ’๐Ÿ๐Ÿ.๐Ÿ” ๐›๐ข๐ฅ๐ฅ๐ข๐จ๐ง from ๐‰๐๐˜ ๐Ÿ‘๐Ÿ“๐Ÿ.๐Ÿ— ๐›๐ข๐ฅ๐ฅ๐ข๐จ๐ง.

โžค Capital spending shifted from ๐Ÿ๐š๐œ๐ญ๐จ๐ซ๐ฒ ๐œ๐จ๐ง๐ฌ๐ญ๐ซ๐ฎ๐œ๐ญ๐ข๐จ๐ง to BiCS-8 production equipment.

โžค FY3/27 capital expenditure is planned at ๐‰๐๐˜ ๐Ÿ’๐Ÿ“๐ŸŽ ๐›๐ข๐ฅ๐ฅ๐ข๐จ๐ง, up ๐‰๐๐˜ ๐Ÿ๐Ÿ”๐Ÿ” ๐›๐ข๐ฅ๐ฅ๐ข๐จ๐ง YoY.

โžค Morgan Stanley maintained an ๐Ž๐ฏ๐ž๐ซ๐ฐ๐ž๐ข๐ ๐ก๐ญ rating with a ๐‰๐๐˜ ๐Ÿ๐Ÿ๐ŸŽ,๐ŸŽ๐ŸŽ๐ŸŽ price target.

๐Ÿ‘‰ ๐–๐ก๐ฒ ๐ˆ๐ญ ๐Œ๐š๐ญ๐ญ๐ž๐ซ๐ฌ:

โžค Stockpiling by customers and suppliers signals expectations of ๐ก๐ข๐ ๐ก๐ž๐ซ ๐ฆ๐ž๐ฆ๐จ๐ซ๐ฒ ๐ฉ๐ซ๐ข๐œ๐ž๐ฌ.

โžค AI demand and next-generation NAND investments could extend the ๐ฆ๐ž๐ฆ๐จ๐ซ๐ฒ ๐ฎ๐ฉ๐œ๐ฒ๐œ๐ฅ๐ž.

โžค Kioxia's expansion may benefit the broader ๐๐€๐๐ƒ and semiconductor supply chain.

๐Ÿ‘‰ ๐„๐ฑ๐ฉ๐ž๐ซ๐ญ ๐’๐ญ๐š๐ญ๐ž๐ฆ๐ž๐ง๐ญ:

โžค "Kioxia's results point to an accelerating storage supercycle, with AI-driven demand and strong free cash flow expected to support the stock." โ€” ๐Œ๐จ๐ซ๐ ๐š๐ง ๐’๐ญ๐š๐ง๐ฅ๐ž๐ฒ.

โžค "Apple's order growth and Kioxia's higher raw-material inventories indicate broad supply-chain stockpiling ahead of anticipated memory price increases." โ€” ๐Œ๐จ๐ซ๐ ๐š๐ง ๐’๐ญ๐š๐ง๐ฅ๐ž๐ฒ.

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