South Korean electronics giants Samsung Electronics Co Ltd saw their shares decrease by more than 4%, with the shares hitting a one month low. This came about after Morgan Stanley cut its recommendation on the tech giants, with the firm stating their concern the peak for memory chips will soon happen.

The record third-quarter profit reported by Samsung was due to the high demand for more chips in servers and smartphones that drove the prices high. The company recorded a profit of 14.5 trillion won ($12.91 billion) during the Q3 of the year, leaving investors with the thought of how long the memory chip boom will last.

A research conducted by Morgan Stanley was released on Sunday and it devalued its view of Samsung from overweight to equal weight. The report also reduced the price target for their stock by 2.4%, with the new price target now 2.8 million won. The report stated that the earnings of the company in their memory chip sector might not grow materially by next year.

The report commented that “We see downside risk as NAND prices have started to reverse in 4Q17. Meanwhile, visibility on DRAM supply-demand dynamics has reduced beyond 1Q18.”

The shares of Samsung Electronics suffered their biggest intra-day percentage loss for over a year now. Overall this year, the shares of the company had gone up by more than 47%, with their market value now roughly $353 billion.

Some analysts though stated that the company will not be affected by the prediction of Morgan Stanley unlike rivals SK Hynix Inc. who are the second largest chi making company in the work after Samsung. Greg Roh, an analyst at HMC Investment & Securities stated that “The reaction is a bit over-sensitive, as all this was known.”

He further added that “We all knew that NAND prices are going down, which is actually needed to encourage sound demand and increase shipments. And Samsung is strong in NAND chips for data center SSDs (solid state drives) which will be less affected.”

Samsung last month stated that it expects an increased demand for NAND and DRAM next year.