The Shocking Impact Of Memory "Chipflation" On Soaring Producer Prices: A Morgan Stanley Deep Dive

By Shawn Kim, Morgan Stanley equity analyst

In the Sunday Start two weeks ago, we described an inelastic economy – AI infrastructure demand proving remarkably insensitive to rising costs. Sharp price increases ranging from copper to gas turbines to memory have done little to slow the build-out. This week we follow that thread into the memory market, where the price signal is loudest and traveling furthest.