Well, one of the reasons is that that's what we've expected all along. When Samsung announced a major expansion in early 2010's, many analysts predicted the pr

Well, one of the reasons is that that's what we've expected all along. When Samsung announced a major expansion in early 2010's, many analysts predicted the price glut in 2015-16 that followed. That memory price glut (and a record loss by all industry participants) in turn discouraged capex by memory makers that resulted in the 2017-18 boom we just witnessed. So now, the windfall during the last boom likewise encouraged higher capex and production increase that is now driving down the price and their bottom line again -- the industry nearly completes a full cycle and is at another trough marked by decrease in capex and production cut. There is really nothing too conspiratorial about this business cycle. Sure, I think every memory makers at one point got caught price-fixing, but you can't just say they are colluding again just because they are all cutting production under unfavorable market condition (ie, lower demand/falling price).