Micron

HSBC: HBM ASP expected to increase to $3.7/GB in 2027E followed by $4.8/GB in 2028E. The HBM market is expected to increase to $391 billion in 2028E, up from $37 billion in 2025. $MU $DRAM $EWY Date: 10/14/26

$SOXX $NBIS $MU $SNDK $LITE Not calling the bottom, but it sure smells a lot closer than it did two weeks ago… Hong Kong tech (Hang Seng Tech) is now down 43% from its October 2025 peak. And hedge funds just sold global tech harder than at…

Even Taiwan's second tier chipmakers are printing money right now. According to Taiwanese media, Powerchip just reported third quarter revenue up 80% from a year ago and net profit up 338%. Its gross margin jumped from 28% to 48% in a…

$NBIS $MU $LITE This is a great take on the current state of the AI trade. On the equity side, tech trades at ~19x forward earnings. At the 2000 peak it was ~59x. Prices have run, but earnings have run faster, so the multiple is actually…

Expert Takeaways: Memory A manager at tier-1 server manufacturer says memory demand increased 15-25% YoY in Q3 and is expected to grow the same amount in 2027. Sees memory constraint persisting through 2029-2030. $MU $DRAM $EWY $SKHY

$SPY rose about 0.5% today to around $773, bouncing from an early low of $768.41 as chip and AI stocks led the market higher. Here are the top stories you need to know. 1. $SMCI jumped about 10% after raising its fiscal first quarter…

The memory supercycle is about to get A LOT bigger, Every single new wave of AI is creating an entirely NEW layer of demand for memory, and we're still in the EARLY stages of this cycle. HBM capacity per GPU has already increased 3.6X from…

Latest investment under Micron's up to $3 billion U.S. supply-chain plan strengthens the domestic semiconductor ecosystem and expands access to critical materials for advanced memory manufacturing. https://t.co/SrgaBsSqtt

Demanding Korean suppliers beat Chinese pricing while building 100,000 wafers per month misunderstands semiconductor supply economics. Wafer fab tools and pure chemical consumables are priced by yield and purity, not procurement leverage.…

Just in. @MicronTech says it has signed a deal with the labor union in Taiwan. They cancelled mediation schedule for Thursday. https://t.co/ePtx3bJiyG

The industry believes SK Hynix' HBM4 shipments fell short of initial expectations in the third quarter. According to the industry on the 21st, SK hynix's third-quarter operating profit consensus (the average forecast by brokerages) is…

$SPY rose about 0.2% today to around $768, bouncing from an early low of $764.25 as the Dow led and tech lagged. Here are the top stories you need to know. 1. South Korean neocloud Elice plunged 32% in its trading debut, dragging the KOSPI…

$MU $SNDK $SKHY $NBIS Nomura’s memory team just put out a really interesting note on the AI scare, the numbers underneath are some of the strongest I’ve seen in this drawdown. Nomura sees AI going from 10GW of data center power in 2025 to…

JPMorgan just dropped an ABSOLUTELY INSANE forecast for AI compute. According to JPMorgan, global AI compute demand is expected to reach roughly 530 GW by 2031, while available supply is projected to reach just 250 GW. That leaves us with…

This is how you get rich ⚡️ You buy the macro dip in companies that are structural to building the future, with great management and a killer product roadmap. This is the time to add, into fear, into bad news, into uncertainty, not to…

Analysts point to a 30% QoQ price increase for NAND and 20% QoQ for DRAM in Q4. $MU $SNDK $EWY $DRAM https://t.co/16CKZNUlP2

Nice constraint map and the major names involved at each layer 👍 do check it out. $AVGO $LITE $MRVL $MU $AXTI $WDC https://t.co/PL5odHUzZc https://t.co/WOkP0IkIDP

We're about to witness the BIGGEST infrastructure spending boom in human history. According to Morgan Stanley, hyperscalers and neoclouds are projected to spend a staggering $1.58 TRILLION in 2027 and $1.81 TRILLION in 2028 when operating…

DS Investment & Securities: Memory If 3-year cumulative DRAM ASP falls by ~32% and NAND by ~39%, companies can structurally maintain 80% to 90% of their peak 2027 operating profits. Supplier contracts and HBM mix improvements prevent sharp…

According to Korean media, Samsung is now making FEWER phones because memory got too expensive. Samsung cut its fourth quarter plan for mid range and budget phones from 31.4 million units to 24.2 million and that is a drop of about 23% in…

Samsung raised its 32GB DDR5 price from $149 to $239 in September. That's a 60 percent jump in one month, and it isn't the top of the curve. Contract DRAM pricing more than doubled this year, from about $7 a unit to $19.50, and Gartner is…

CHINA'S CXMT DRAM CAPACITY SEEN JUMPING 31% IN 2027, COULD NEARLY DOUBLE BY 2028 According to market research firms Counterpoint Research and TrendForce on the 18th, CXMT's monthly DRAM wafer production capacity is expected to expand from…

Memory stocks just lost about $738 BILLION in market value. According to Goldman Sachs, shares of the major memory makers fell between 11% and 26% after China's CXMT announced its new DRAM cell architecture. SK Hynix fell about 25%.…

Samsung is teaming up with its biggest foundry rival to build Nvidia's next memory chip. According to Korean media, Samsung will use $TSM's 3nm process for the base die in $NVDA's custom NVHBM, at Nvidia's request. The base die is the…

DRAM spot pricing ⬆️ SK Hynix and Samsung market cap ⬇️ $MU $DRAM $EWY $SKHY https://t.co/vx6FIle8j2

Every major memory maker says it's sold out through 2027, demand described as extremely strong, and the stock prices did not get that memo this month. Micron, SanDisk, SK Hynix and Western Digital have all taken turns falling since October…

Micron opened AATT2 in Taichung on Oct 15, its second advanced assembly and test site in Taiwan. Per BigGo, its 2027 HBM capacity is already fully sold out. New packaging capacity is being built against orders that already exist.…

ENGINEERING NEWS 🔋 Tesla has designed a breathable battery bandage that stops punctures without leaving a dead zone behind 🔥 Deep inside a lithium-ion cell, a thin strip of tape stands guard over one of the riskiest spots in the whole…

China's biggest DRAM maker is printing money. CXMT expects about ¥131 billion in net profit for the first nine months of 2026. A year earlier it lost ¥5.3 billion. Quarterly revenue went from ¥6.1 billion in Q1 2025 to an estimated ¥115 to…

Dan Ives on memory demand: "I just landed from Korea and we're seeing memory chip demand/supply 13 to 1." For every 1 unit of memory capacity available, buyers are requesting for 13 units. Via @CNBC $MU $DRAM $EWY $SKHY

A US class action alleges Samsung, SK hynix and Micron coordinated DRAM pricing, and that each AI HBM bit cost about three bits of regular DRAM. These are unproven allegations: no certified class, no liability found. Wafer conversion math…

BofA: we continue to expect supercycle-level ASPs, revenue, and margins not only in 4Q26 but also through 2027-28 for memory. $MU $DRAM $EWY

Keybanc: Supply chain partners indicate that Nvidia is sampling a Rubin Ultra GPU with 384GB of HBM4E based on 8x12H. This would represent a 33% increase in memory density over Rubin, which has 288GB of HBM4 memory. However, most memory…

Daishin Securities says concerns of excessive memory capacity by 2028 are "premature" and that operating margins for memory makers would be at 50% even after a 50% drop in DRAM prices. $MU $DRAM $EWY

Michael Dell just told the Wall Street Journal that the memory crunch is going to get WORSE. On CNBC this week he said supply and demand get worse next year, and when asked about memory he called it "maybe a four year problem because…

Global smartphone shipments just had their WORST quarter on record. IDC says shipments fell about 22% in Q3 to 255.3 million units. Memory costs driven by AI demand are crushing phone makers. Chinese brands got hit the hardest, while…

KB Securities: We estimate the DRAM process technology gap between Samsung Electronics and China's CXMT at 5-7 years on a mass-production basis. $DRAM $EWY $MU

CEO of Phison disagrees with the CXMT memory scare and calls it a "ghost story from the market." He states next year "there will be a shortage of everything except orders." He is more worried about the shortage of materials causing them to…

Expert call covering semiconductor testing & memory - HBM test intensity, Advantest vs. Teradyne competitive dynamics, probe card demand, and CXMT localization progress. $MU $TER $SKHY $DRAM https://t.co/bdBOWkmthz

HSBC: ASIC will account 57% of total HBM demand by 2028e (from 31% in 2025) $GOOGL $MU $MRVL $META $MSFT $AVGO $AMZN

Morgan Stanley: CIO Survey > As a result of higher prices, longer lead times, and supply chain uncertainty, 83% of CIOs are making at least some adjustments (including pull-forward) to 2026. > The percentage of CIOs pulling planned 2027…

Keybanc states Micron is quoting 4Q26 SSD pricing +40-45% Q/Q, compared to consensus increase +20% Q/Q. $MU $DRAM $EWY https://t.co/xmxsXCb3yD

Morgan Stanley: We heard a broad consensus from our industry checks that the AI semis supply chain has strengthened in the last 30 days. We hear the most conviction from DRAM, NAND, HDD, and GPU. $AMD $NVDA $MU $SNDK $WDC $STX

DIGITIMES: Nvidia's next-generation Rubin AI accelerators are expected to rely predominantly on 12-layer HBM4 high-bandwidth memory, despite reports that the chipmaker has asked Samsung Electronics and SK hynix to increase supplies of…

GOOD SIGNAL 🇨🇳 Elon Musk just said that China will be making a LOT of RAM in 2028 ⏳ For Tesla, that could turn out to be one of the best supply chain stories of the decade, and Optimus stands to gain the most 🔥 Memory is the reason why.…

China will be making a LOT of RAM in 2028 https://t.co/RiBFTe6JIC

A financial column published in South Korea now warns of memory oversupply in 2029, after new capacity comes online. They argue Korea has only 2-3 years to develop new growth industries before the cycle potentially reverses. $DRAM $MU…

Barclays: spot prices for DDR5 memory rose 8% month-over-month in October and 20% over the past three months, while the previous-generation DDR4 saw a 4% monthly increase but a 24% rise over the same period. $MU $DRAM $EWY

J.P. Morgan: accumulated HBM shortage reaching 23 weeks by CY28 and industry HBM TAM at ~$160B/~$280B in CY27/28 (from ~$64B in CY26). $DRAM $EWY $MU $SKHY

SK Hynix, Micron confront AI memory bottlenecks with HBM standardization, chip integration AI infrastructure expansion is shifting semiconductor competition beyond individual chip performance towards memory bandwidth, data-transfer power…

$MU This might be the most bullish memory chart I've seen all year. Bloomberg Intelligence has HBM bit shipments going from about 5,000M GB in 2026 to roughly 18,000M GB by 2030, almost 4x in four years. Over the same period, the average…

Bloomberg Intelligence expects the HBM market reaching $641 billion by 2030, up from a previous forecast of $260 billion. BI expects HBM3E and HBM4 prices to jump 30–45% in 2027 and estimate that the average HBM price will rise from $15.46…

$MU went from 16 to 26 strategic customer agreements in a single quarter, and now @elonmusk is calling Micron the reasonable one on future memory prices while its peers have been “extortionate.” Those contracts now cover more than 35% of…

Micron's quarter: revenue $54.23B, up 4.8x year on year; operating income $43.75B, up about 12x. Cloud Memory, mostly HBM, did $16.28B at 83% gross margin and 76% operating margin. Capex was $10.77B against $73.45B of cash. Nobody is…

Elon is saying Micron has been reasonable with future memory prices while the others have been extortionate 😮 Elon doesn't like what Samsung and SK Hynix are doing in terms of pricing... $MU $DRAM $EWY $SKHY https://t.co/nJBQXyVfrb

BofA on CXMT's 4F2 architecture: Restricted from importing ASML’s EUV lithography tools due to US sanctions, CXMT is likely advancing toward 4F2 architecture faster than the "Big 3" DRAM manufacturers. While the top three producers have…

$SPY finished basically flat today, closing at $778.01 for a 0.01% loss after dipping as low as $775.95 earlier in the session as chip stocks sold off. Here are the top stories you need to know. 1. Memory stocks got hit again on worries…

The Fed just admitted that AI demand is now big enough to move INFLATION across the entire United States economy. New York Fed President John Williams said today that one more rate hike may be appropriate this year but he currently sees no…

$SNDK $MU $SKHY FUD runs fast but never far. This reminds me of what happened to the memory trade at the beginning of the year. https://t.co/q39a12yTgI

Memory fundamentals are still very strong (stronger than Q1). $MU CEO: - "We expect memory and storage supply demand conditions to be much tighter in fiscal 2027 and 2028 than they were in 2026." - "We do not have line of sight to when…

If you have time, go play around with this interactive website to see the parts inside Nvidia's Vera Rubin. Great work by @benitoz He also has supply chain mapping 🔥 Link in replies 👇 $NVDA $MU $GOOGL $MRVL $AVGO https://t.co/qyqtCnYDnz

Breaking: Micron is plunging for a 4th straight day because a Chinese rival built a new memory chip $MU lost ~$160,000,000,000 in market cap and is down 13% past week https://t.co/JiOHU0Aols

$AMAT just opened the largest joint chip research facility in the world, and all the major chipmakers are in it. The EPIC Center in Sunnyvale, California covers about 600,000 square feet, with nearly four acres of cleanroom space. Spending…

UBS: Server DRAM Total DRAM Demand (mn Gb): > 2024: 73,831 (+25.1% YoY) > 2025: 118,088 (+59.9% YoY) > 2026E: 177,057 (+49.9% YoY) > 2027E: 324,124 (+83.1% YoY) $MU $DRAM $EWY

$NBIS $SNDK $MU $LITE $AAOI Token demand just keeps going vertical. OpenRouter routed 379 trillion tokens in August, up from 15T a year ago. That’s 25x in twelve months. The jump from July to August added 131T tokens in a single month,…

Barclays: Micron's DRAM supply is set to remain constrained through CY28 as DDR5 spot pricing jumped 8% MoM. New customer supply agreements now track market pricing dynamics rather than prior floor and ceiling structures. Barclays models…

Goldman Sachs is now forecasting a 4.9 percent DRAM undersupply for 2026, and the mechanism behind that number matters more than the headline. Samsung, SK Hynix, and Micron aren't short on fab capacity. They're reallocating it. HBM for AI…

Memory market spot prices: DRAM: > 4Gb DDR4: +274% > 4Gb DDR3: +243% > 16Gb DDR5: +100% > 8Gb DDR4: +92% > 16Gb DDR4: +30% NAND / Storage: > 256Gb Wafer: +167% > 512GB SSD: +144% > 512Gb Wafer: +44% $SNDK $MU $DRAM $EWY $SKHY

Chey Tae-won, chairperson of SK Group, wants to speed up chip plant expansion to avoid losing memory market share in Korea. He said, "If Chinese companies or U.S. Micron expand faster, Korea's market share will shrink," adding, "There is…

Counterpoint Research is forecasting DRAM demand from the humanoid robot industry to rise about 20x, from roughly 8,300 terabits this year to 172,000 terabits in 2030. DRAM capacity per humanoid robot to more than double, from 19 gigabytes…

Jensen Huang just committed $1 BILLION to put AI in the hands of America's scientists. At the White House science summit, 11 companies pledged $2.4 billion in compute and AI tools to the Genesis Mission, which now covers more than 15…

With the Singapore Grand Prix in a few hours, I can't help but draw comparisons to the financial markets and the AI trade. One slow pitstop or a miscalculated overtake can undo weeks of preparation and cost millions of dollars. So with AI…

Every Robotaxi and Optimus bot needs memory to turn AI models into real-world action. As Tesla scales production, locking down that memory supply is becoming a critical pillar of its manufacturing strategy—and that’s precisely why Terafab…

SK hynix holds ~50% of HBM in 2026 but had no hybrid-bonded samples in production as of Oct 8. An Oct 7 industry report says Samsung shipped samples first; generation and customers unconfirmed. Samsung's share is reported at 33%, Micron…

HBM needs ~3x the wafer area of DDR5 for equal capacity and sells at ~5x the per-bit price (Micron, Hot Chips 2026). The diversion shows up in commodity DRAM: contract prices reportedly rose 90-95% QoQ in Q1 2026 and another 58-63% in Q2.…

Micron's Taoyuan union voted 99% to authorise a strike, timing undecided; its Taiwan fabs make more than 60% of its global DRAM. Against that, Micron holds ~$18B of cash deposits within $22B of multi-year take-or-pay commitments. Those…

Nvidia is now redesigning how AI memory works and it is pulling TSMC right into the middle of the HBM business. According to TheElec, Micron will use TSMC to make the base die for its HBM4E. Nvidia's custom NVHBM moves the memory…

Goldman Sachs: Samsung Electronics' HBM revenue is projected to increase to $81 billion in 2027 (+321% YoY). Blended HBM average selling prices are estimated to exceed $4/GB, representing a 159% YoY increase. Incredible growth in HBM...…

Morgan Stanley: Samsung to see its HBM ASP increases 83.4% YoY to $3.66/GB in 2027. $MU $DRAM $EWY

Micron fiscal Q4: revenue $54.23B, up 4.8x y/y; operating income $43.75B; cash $73.45B, near four fabs' worth, against $10.77B capex. Its Taoyuan union then voted 99% to authorize a strike over profit-sharing; no date set. The fight is now…

a16z's chart made the crossover visible: agent token use passed human token use on OpenRouter back in February, and by August agents were burning 7.3 trillion tokens against 1.4 trillion for humans, roughly five times over. Futurum's…

Here is an expert call that touches on memory supply and price increases. $MU $DRAM $EWY https://t.co/qtaUUd7JV8

Expert Call | Memory Research — DRAM/NAND Supply Contraction and Price Increases, HBM Capacity Crowd

99% of 1,994 voting union members at Micron's Taoyuan site backed a strike, per joho-todai. The two Taiwan unions cover over 80% of staff; Taiwan is ~60% of Micron DRAM and HBM output, and 75%+ of 2027 shipments are booked. Approval is…

Employees want more compensation and they have a right to it 💯 Great expert call from Damnang. Go check it out! $MU $DRAM $EWY. . https://t.co/6cDE6TekVu https://t.co/oa7gGZMne1

According to an expert, YMTC's eSSD products have been getting trialed by domestic customers due to tight capacity at leading overseas OEMs; however, data center customers still prioritize eSDDs from Samsung, SK Hynix, and Micron. $MU…

Expert Takeaways: Samsung > Samsung's Production & Sourcing Shift: Samsung is reallocating 10%+ of its 1c node capacity from LPDDR5X to HBM by 2027, while its mobile division relies on a multi-supplier strategy rather than prioritizing…

AI agents will trigger the largest CPU supercycle in history. Mizuho estimates agentic CPU sockets will surge from 1.3 million in 2026 to 16 million by 2030. Including head node processors, AI could drive nearly half of all server CPU…

One of the hardest parts of the memory trade is picking the stock. Forecasts have global memory chip revenue going from $200b in 2025 to over $700B in 2027. That's more than triple in two years. The demand side is easy to see. Every AI…

Mirae Asset Securities: SK Hynix > 12-Hi HBM4 replaced by 8-Hi is a way to stretch constrained supply; allow more stacks to be supplied. > HBM3E supplied for big tech companies has room for price increases in 2027. > Industry is bringing…

Bernstein: AI server supply chain $NVDA $AMD $AVGO $TSM $MU $AMKR $GOOGL

According to Damnang's expert call, SK Hynix is facing technical difficulties in developing hybrid bonding for HBM while Samsung has already sent samples to customers. $MU $DRAM $EWY https://t.co/VwdJ67FMX8 https://t.co/cJRfZWOHA9

$SKHY $MU $SNDK Memory per GPU is going up, and the math is getting silly. The fear with memory at these prices has always been "de-spec," the idea that chip designers respond to expensive memory by using less of it. BofA's memory team is…

Expert Call: Memory - Key Takeaways > Contracts are moving from flexible 2–3 year terms to 5yr+ take-or-pay structures with upfront deposits and price floors/ceilings, prioritizing downside protection for suppliers. > Tight conventional…

Micron has already committed more than 75% of planned fiscal 2027 output, and most customer talks have moved to 2028 volumes. DDR5 rose over 100% in 2026; JPMorgan puts DRAM up more than 400% from early 2024 to end-2026. Scarcity is now…

AI & TECH STOCK MARKET REVIEW The 10 biggest stories from today: 1. $NVDA hit another ATH and is close to becoming the first company ever worth $6 trillion. The stock is up ~28% this year, adding ~$1.2 trillion in market cap, making Nvidia…

Bernstein expects conventional DRAM ASP to peak in Q3'27 before coming down steadily. $DRAM $EWY $MU https://t.co/dj6CRftByg

Netlist has begun legal proceedings against Micron and downstream customers Nvidia, Broadcom and Google over alleged unauthorized use of its HBM patents, per DigiTimes. The claim reaches past the memory maker to the chip buyers. IP risk…

Mirae Asset Securities on memory: "We expect memory supply/demand conditions to be tighter in 2028 than in 2027. A significant portion of 2027 shipment volumes has already been committed, and discussions with customers are increasingly…

I had the chance to check out J.P. Morgan's latest Memory Market Update and it only made me more bullish on $MU and $SNDK. Memory bears are running out of years to be right. Micron now sees supply tighter in 2027 and 2028 than in 2026,…