Terry✓ @RichTerry123
Sep 10 Citi 全球 TMT 刚开完。昨夜三大指数连跌，存储逆势炸，海力士新高、闪迪美光跟涨，Meta 推个人 AI 智能体也暴拉。盘面是结果，会上讲的才是锚点，做个总结： 闪迪：存储在改成公用事业。NBM 四件套 ——
Terry — Citi Global TMT readout: NAND TAM $50B to $500B by 2027, AMD CPU TAM $60B to $220B, optical testing capacity about 100x short
Terry — Citi Global TMT readout: NAND TAM $50B to $500B by 2027, AMD CPU TAM $60B to $220B, optical testing capacity about 100x short
One conference readout that touches three live theses at once: SanDisk's contract structure (half of shipments now, two-thirds by 2028, gross margin near 80% at a floor price) is the memory pricing-discipline mechanism, and the CPO testing-capacity figure reframes the optical bottleneck as a test-and-qualification problem rather than a photonics one. Second-hand conference notes; treat the TAM figures as the speaker's, not reported results.
Why it's worth your time
One conference readout that touches three live theses at once: SanDisk's contract structure (half of shipments now, two-thirds by 2028, gross margin near 80% at a floor price) is the memory pricing-discipline mechanism, and the CPO testing-capacity figure reframes the optical bottleneck as a test-and-qualification problem rather than a photonics one. Second-hand conference notes; treat the TAM figures as the speaker's, not reported results.
Related
10 eventsSource links
Tweets, videos, filings, articles, and source pages tied to this read.