There are two possible paths for storage stocks in the future: 1. One is like Nvidia at the end of '24—after a 40% pullback, its earnings report continues to exceed expectations, performance strengthens, and it escapes the fate of being a cyclical stock to become a long-term blue chip. 2. The other is like silver this year—momentum pushes it to a historical high, followed by choppy rebounds and repeated declines, constantly forming lower highs, making it difficult to return to the peak even after ten years. So, where will storage stocks go next? It still depends on production expansion discipline and demand from AI semiconductors. Can supply maintain a tight contraction state and avoid repeating the mistakes of previous over-supply? While long-term contracts secure the bottom line, is there still room for the upper limit?