Apple: I See An Alchain-Allen Theorem At Play (Upgrade)

The author argues Apple (AAPL.OQ) stands to benefit from a DRAM and NAND memory shortage that is expected to persist through 2026. Using the “Alchain-Allen theorem,” the piece says tightening supply and higher component pricing for competitors will make Apple’s premium products comparatively more attractive, supporting shipment growth even as the broader smartphone market declines. The note is market-focused commentary suggesting this structural advantage could be positive for Apple’s revenue and competitive positioning, implying a bullish outlook for the stock rather than an immediate technical or earnings-driven catalyst.