**[Serenity: Storage Prices and Supply-Demand Structure Remain Tight, Short-Term Increase Does Not Indicate Bottleneck Breakthrough]** BlockBeats News, September 6, Serenity issued a reminder that the fundamentals of storage shortages have not changed and may even become more severe. The market will rotate from one bottleneck segment to another, but the companies themselves remain unchanged; what changes are valuations and narratives. Serenity provided several pieces of evidence suggesting that the storage supply-demand gap may be worse than the market expects: - Nikkei reported that Japanese distributors claim the storage demand gap has reached 40% to 60%, and prices may rise another 50% by the end of the year. - SpaceX has not accounted for approximately $1.3 trillion in capital expenditures from hyperscale cloud providers, and total expenditures may exceed expectations. - SanDisk's 80% gross margin is expected to be maintained until 2030. - Order visibility for companies like Samsung has already extended to 2031. Serenity emphasized that storage stocks are highly volatile, with some of its positions achieving floating profits exceeding 270%, making it easier to hold onto them. However, the company's operational fundamentals often do not align with short-term stock prices. The same logic applies to other bottleneck segments such as optical modules, CW lasers, and substrates. A rebound in stock prices does not necessarily mean the shortage has ended. Storage prices and the supply-demand structure remain tight, while market sentiment and valuation narratives are rapidly rotating. [Original Link]