Perhaps those worried about the sell-offs in momentum memory chip stocks such as Micron (MU) and Sandisk (SNDK) should read the second quarter earnings release from auto giant General Motors (GM). Because it sure looks like the memory chip supply shortage driving up prices is alive and well, despite market fears of a slowdown. For the second time this year, GM lifted its full-year profit forecast despite higher memory chip costs and tariff impacts. But GM's guidance for $1.5 billion to $2 billion commodity inflation and higher DRAM (aka memory chips) costs was initially lost in the headlines. As for memory chip stocks, GM just reinforced the reason investors were bullish in the first place.