What are the odds memory chip costs will stabilize? NTDOY play

NTDOY stock has fallen 58 % in little over six months. Arguably the main reason for this crash is the skyrocketing costs in memory chips. While memory chip costs are going up for a lot of reasons the main reason seems to be the higher capex that big tech is throwing after AI data centers.

So is Nintendo stock almost like a hedge against MU, AMD, NVDA and others? Or is that a crazy thought?

If Nintendo is going up because memory chip prices are falling (lowering Nintendo's production costs), then memory manufacturers like Micron may be going down. Retail traders who follow "the great rotation" might exit MU because declining chip prices hurt Micron’s margins, even as they help Nintendo's.

While Nvidia actually provides the chips for the Switch, retail traders often treat these as "risk-on" momentum stocks. If the market "rotates" into value-oriented Japanese stocks like Nintendo, some of the frothier, high-multiple US tech stocks like AMD can see a temporary pullback as capital moves toward the "new" winner.

Also, do you believe NTDOY is currently a bargain or not?