Goldman Sachs Warns Micron Faces Three Memory Chip Headwinds as Apple Eyes Chinese Supplier

According to Goldman Sachs, memory chip suppliers face three key challenges last week, with Micron's prospects particularly pressured. Goldman Sachs trader Ippei Yamaura identified the risks as: HBM pricing momentum weakening amid rising production capacity in 2027-2028, intensifying competition from Chinese chipmakers including Long Semiconductor, and signs of cooling AI server spending. The analyst noted Apple is lobbying the U.S. government to approve purchases from Long Semiconductor to ease rising memory costs, a move that could directly undermine Micron's market position. The concerns follow OpenAI's decision to delay its IPO to 2027 and potential valuation cuts, raising doubts about sustained AI infrastructure investments.
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