[Bank of America Says Storage Stock Valuations Show Signs of Cyclical Bottom, Market Concerns Overblown] According to a report by Golden Finance, Bank of America stated in its October 16 research note: 'We believe that after approximately three and a half months of deep correction, the valuation multiples of storage stocks have reached a bottom. This adjustment is exemplified by SK Hynix and Samsung Electronics, whose stock prices have both fallen by more than 50% from their June highs.' Bank of America analysts, including Simon Woo, noted that based on consensus earnings expectations for 2027 to 2028, the price-to-earnings ratio has dropped to just 2 to 3 times. The report argues that market concerns about the shift from an AI storage boom to a downturn are excessive, and the recent stock price corrections have largely deviated from fundamentals.