RJ's Hans Mosesmann thinks the reported size of Hynix's planned investment in the fab means the facility will only handle ~5% of global DRAM output, or ~3% of total memory output. Though believing a drop in Micron shares in response to the news is "correct," he considers the magnitude excessive.
Mosesmann: "We still believe DRAM supply is in structurally better shape now than it has been in decades. We view today’s weakness as a buying opportunity."
Piper's Jagadish Iyer believes Hynix might be moving capacity from an existing fab to a new one, with the idea of reallocating existing capacity "for other products and/or R&D." He still thinks Samsung, Micron, and Hynix "will continue to keep DRAM supply rational."