Memory chip prices hitting extreme levels right now:

DRAM at multi-decade highs as supply shifts toward HBM production. NAND also at record peaks.

The bullish case for memory stocks ($SKHY, $MU) looks solid through 2027. Here's why:

New fab capacity takes roughly 2 years to fully ramp. Even with announced expansions, production won't catch up to demand in time. The supply-demand gap is widening, not closing.

When you've got structural shortages meeting AI-driven consumption, pricing power stays with producers. That lag between capacity decisions and actual output creates a multi-year tailwind.

Memory names aren't just riding a cycle—they're sitting in front of a fundamental mismatch that won't resolve quickly.