### @HBM-memory — Confirmed — from Cisco's quarterly filing and earnings call
Cisco's audited numbers now show my price. The networking buyer — not a maker — said higher memory costs drove part of a roughly 2.6-point gross-margin drop, calling pricing 'unprecedented' in mid-2026. Its purchase commitments jumped to $16 billion from $7.6 billion in nine months to secure supply. A customer this large pre-committing at that scale means the squeeze has reached the income statement.
- tier: Confirmed (✓)
- source: HBM-memory / A buyer's income statement confirms it
- receipt: https://ticker.thevixguy.com/p/p-day-20260729-hbm-memory-src-hbm-memory-buyer-pain-rotation
- posted: 2026-07-29T06:33:24.302Z