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Memory companies investment strategy

We are in the semiconductor market phase where everybody disagrees about what is happening. The market is up; the market is down. Mobile phones are up…. oh no, now they are down. The PC market is up—oh no, we must wait until we can get an AI PC. The inflation is high—the consumer is not buying.

For us in the industry, the 13-week financial analyst cycle is the entire universe - time did not exist before this quarter, and it will cease to exist after it.

Sell, sell, sell, pull, push, cheat, steal, fake, blame! Anything to make the guidance number. If you are in the hamster wheel, there is no oxygen, and you lose the overview.

The bottom line is that it does not matter, and the quarterly cycles are a (sometimes expensive) distraction from achieving long-term business success. The semiconductor business does not rotate around a quarter or a financial year. It is orientated a…