u/Bill_Clintons_Desk5

The author argues Kioxia is undervalued because NAND demand is expected to 2-3x through 2027 and possibly into 2028, while Kioxia's horizontal scaling approach gives it lower costs and juiced margins versus competitors. Demand is outpacing supply growth, with Kioxia leading new production facilities but unable to catch up until 2029, and the biggest threat of capex reduction was dismissed by Jensen Huang's comments and Google's dilution to fund AI. The catalyst is Kioxia's planned US market entrance (likely NASDAQ), which the author expects to bring American capital and drive the stock higher. The main stated risk is capex reduction, which the author believes has been neutralized.

The author has been riding the memory/storage train with shares of SNDK, WDC, and MU, and more recently DRAM. The causal mechanism is the ongoing memory/storage sector momentum, with the catalyst being Kioxia earnings next week which the author expects will drive further upside. Main stated risk is not explicitly named, though the author notes options 'scare' them.

The author has been riding the memory/storage train with shares of SNDK, WDC, and MU, and more recently DRAM. The causal mechanism is the ongoing memory/storage sector momentum, with the catalyst being Kioxia earnings next week which the author expects will drive further upside. Main stated risk is not explicitly named, though the author notes options 'scare' them.