Global Memory Global Markets Research EQUITY: MEMORY AI market concerns and the memory outlook Supply constraints remain central to our investment thesis We remain constructive on memory and expect supply constraints to persist through at least 2028F Following the news on CXMT's (688825 CH, Buy) progress in 4F² technology, concerns over AI revenue growth and neocloud funding have weighed on sentiment. We continue to view market concerns over CXMT's 4F² transition as excessive ( report ). In our view, the ma ...