Woofun AI reports that Morgan Stanley anticipates DRAM contract prices will reach their peak in the fourth quarter of 2026. The firm expects the year-on-year growth rate to experience a substantial decline following this peak. A repetition of the fourfold price increase observed in the previous year is deemed unlikely. Consequently, the valuation of storage companies, measured by the forward 12-month price-to-book ratio, is pending reassessment.