Summary of Memory initiation and QCOM earnings (still a time to do research 😅) ☕️Memory: DRAM intact, NAND diverging • Prefer MU (US + better HBM4 pricing) and SKHY (valuation + returns) • More cautious on NAND demand divergence Ratings / TP / EPS: • MU: Buy | TP $1,331 | FY27E/28E EPS $201 / $278 • SKHY: Buy | TP $212 | FY27E/28E EPS ~$47 / ~$61 • SNDK: Hold | TP $1,310 | FY27E/28E EPS $242 / $324 Key numbers: • HBM4 2027 pricing ~$4.5–5.5/Gb (vs ~$2.6 in 2026) • DRAM pricing +12%/+10% QoQ in 4Q26/1Q27 📱Qualcomm: • Hold, TP cut to $153 • Handset still soft (memory costs + weak demand + lukewarm N2) • Datacenter $5bn FY27 target reiterated, but near-term ramp milder and visibility limited, margin dilutive #memory# #dram# #nand# #mu# #skhy# #qcom#