Memory module prices suddenly plummeted! What do you think? Can they rise again? Huabao Fund Electronic ETF (515260) fell 2% along with the market, and funds may be seeing a buying opportunity during the dip.

This week, DDR5 memory modules saw widespread price cuts across multiple U.S. retailers, with the maximum drop reaching $100 per set. The price cuts are reflected on major e-commerce platforms in the U.S., including Amazon and Newegg. In the domestic market, on March 30, the secondhand platform Xianyu showed that the成交均价 of memory sticks over the past 7 days fell by 50 yuan compared with the previous week, to 350 yuan. The成交均价 of DDR5 fell by 20 yuan compared with the previous week, to 1,090 yuan.

This sudden crash in memory prices may be influenced by Google’s recently released TurboQuant memory compression technology. Google said that TurboQuant can reduce the memory footprint of the key parts of large language model runtime—namely the key-value cache (KV Cache)—to 1/6 of the original size without losing accuracy. In specific tests on Nvidia H100 GPUs, performance can improve by as much as 8x. Some market views believe that this technology will reduce AI’s demand for memory.

Although the market’s short-term reaction has been intense, institutional views are clearly split. Some institutions believe that overall demand for memory in the market may not decrease significantly. Instead, it could accelerate the deployment of AI inference applications by weakening the constraints on AI performance caused by memory capacity limitations.

Analysts say the reason for this round of price declines is the combined effect of market supply-demand dynamics and hoarding sentiment. People rushed to buy during the earlier price hikes to stock up; now that prices have fallen, it has triggered a concentrated sell-off of the earlier stockpiles. This short-term sell-off behavior is not a real reversal in market supply-demand conditions.

Multiple supply-chain professionals in the storage industry pointed out that from retail and spot markets all the way through the entire industrial chain, supplying storage products remains an “old, hard-to-solve” problem. The storage production capacity expansion cycle lasts 18 to 24 months, with new capacity releasing as early as 2027. Overall, it still remains a state of tight supply relative to demand, and the big upward trend in prices has not changed. In the industry’s view, this “decline in memory stick prices” is more like an amplified short-term fluctuation.

On the trading board, on the last trading day of March (March 31), all three major A-share indices ended lower in the day. In the electronic ETF Huabao (515260), the core flagship of the Jujing Electronics sector, the on-exchange price briefly touched a high of 0.64% in the early session. Then, after trading stabilized, it pulled back and was down 2.08% at the time. Worth noting is that the ETF frequently saw premium trading ranges on-exchange, suggesting that buy-side funds are stronger, and perhaps some capital is optimistic about the future performance of the electronics sector—buy on dips to set up positions!

As for constituent stocks, Hengxuan Technology led the gains by more than 5%, while Hon Hai Precision Industry (Foxconn) rose by more than 4%. Pengding Holdings, and something like Elt? etc. led the increases. On the other hand, Zhaoyi Innovation fell the most, down 5%; Huaiwei Group, Lantech Technology, and others fell more than 4%, leading the declines and dragging down index performance.

【Embrace tech giants and seize development opportunities】

The Huabao electronic ETF (515260) and its linked fund (A shares: 012550 / C shares: 012551) passively track the CSI Electronics 50 Index. It holds heavy positions in the semiconductor and consumer electronics sectors, investing in popular industries such as Jujing AI chips, automotive electronics, 5G, and printed circuit boards (PCBs). Its weight stocks include Luxshare Precision, Cambricon, Hon Hai Precision Industry (Foxconn), and Semiconductor Manufacturing International Corporation, among others. At the same time, this ETF is a margin trading and securities lending + interconnection eligible underlying, making it an efficient tool for one-click exposure to core assets in the electronics sector.

The Huabao electronic ETF (515260) underlying index covers popular technology concepts. As of the end of February, the industry-chain weights for Apple, Nvidia, and Google are 46.56%, 29.30%, and 23.27%, respectively. It is deeply tied to the growth dividends of global technology giants and is expected to benefit from industrial expansion and technological innovation by major tech companies.

Note: The previous on-exchange short name of the Huabao electronic ETF (515260) was the electronic ETF.

Risk Disclosure: The Huabao electronic ETF passively tracks the CSI Electronics 50 Index. The index base date is 2008.12.31, and it was released on 2009.7.22. The composition of index constituent stocks is adjusted in a timely manner according to the index compilation rules. Its backtested historical performance does not indicate the index’s future performance. The individual stocks and index constituent stocks mentioned in this article are for demonstration only; the descriptions of individual stocks do not constitute any form of investment advice, nor do they represent holdings information or trading activity of any funds under the management company. The fund manager’s assessment of the risk level for the Huabao electronic ETF is R3—medium risk. It is suitable for balanced investors (C3) and above. For details on suitability matching opinions, please refer to the sales institution. Any information appearing in this article (including but not limited to individual stocks, comments, forecasts, charts, indicators, theories, and any form of statements) is for reference only. Investors are responsible for any investment actions they make independently. In addition, any views, analyses, and forecasts in this article do not constitute any form of investment advice to readers, and no responsibility is assumed for any direct or indirect losses resulting from the use of the content of this article. Investing in funds involves risk. Past performance of funds does not guarantee future performance. The performance of other funds managed by the fund manager does not constitute a guarantee of fund performance. Investors should invest prudently.

MACD golden cross signal forms—these stocks have strong upward momentum!

A massive amount of information and precise analysis—right in the Sina Finance APP

责任编辑：高佳