BofA sees a multi-year memory super-cycle extending through 2028, with market revenue reaching $0.97T in '26, $1.47T in '27, and $1.58T in '28. Strong ASPs, stable contract prices, and high bit growth are expected to yield a 2028 soft landing, with DRAM revenue up 10% and NAND revenue up 3% YoY. $MU $DRAM $EWY $SKHY $SNDK

BofA mentioned their investors meeting in HK reflected a more bearish sentiment towards memory compared to August/September, with most investors stating it's hard to find new catalysts that would surprise the market. $MU $DRAM $EWY $SKHY

BofA on the impact of blue wave on data center buildout: "While tighter permitting, an expansion of state-by-state restrictions and higher costs could elongate project timelines, we view this as a supply/timing issue, not a demand issue. Compute needs still have to be met, with development potentially shifting toward more accommodating U.S. States or even internationally (e.g. Google’s recent $15bn expansion to Malaysia)." $GOOGL $META $ORCL $MSFT $AMZN