People who claimed the memory

People who claimed the memory market was cyclical two years ago were wrong, and they were wrong again when they said the same thing a year ago. Now they're repeating it, but everyone in the industry agrees memory prices are going up and any additional production will be absorbed.

Back in 1931, oil was beaten down to $0.10. Memory is far more complex to manufacture than finding new oil. $Intel(INTC)$ has plenty of DUV lithography capacity that could be used for memory, but they aren't making it because processors currently yield much higher revenue per wafer. Eventually, the memory bottleneck will be recognized, but it would take $Taiwan Semiconductor Manufacturing(TSM)$ and $Intel(INTC)$ about eight months to pivot production, and by then it might not even matter. Didn't $NVIDIA(NVDA)$ just announce an AI desktop with 748GB of memory?

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