Morgan Stanley: US Memory Stock Sell-off Is a "Healthy Reset", Not a Cycle Inflection Point

TechFlow news, July 20, Morgan Stanley analysts described the recent sell-off in US memory stocks as a "healthy reset" and believe this is not a turning point in the memory cycle. Morgan Stanley expects DRAM prices in Q3 2026 could still rise quarter-on-quarter by more than 20%-30%. This judgment refers to specific channels and category metrics and cannot be simply equated to the official contract prices for server DRAM across the entire industry.