### @HBM-memory — Confirmed — from Cisco's quarterly filing and earnings call
Cisco— a networking‑equipment buyer, not a maker— said higher memory costs drove about a 2.6‑percentage‑point dip in gross margin, calling the pricing ‘unprecedented’ on its mid‑2026 earnings call. Its purchase commitments jumped to $16 billion from $7.6 billion nine months earlier to lock in supply. When a customer this large pre‑commits at that scale, the shortage has shifted from a forecast to the income statement.
- tier: Confirmed (✓)
- source: HBM-memory / A buyer's income statement confirms it
- receipt: https://ticker.thevixguy.com/p/p-day-20260730-hbm-memory-src-hbm-memory-buyer-pain-rotation
- posted: 2026-07-30T14:44:54.161Z