Bernstein: Conventional DRAM prices may continue to rise in 2027, with HBM facing profit margin pressure

BlockBeats News, June 22 — Bernstein analyst stated in a report that conventional DRAM prices, after experiencing approximately a 4.5-fold increase from Q3 2025 to Q2 2026, may continue to rise in 2027. Therefore, the current average selling price per bit of conventional DRAM has already matched or even surpassed that of high-bandwidth memory (HBM). Bernstein pointed out that, considering higher bit density and yield, this year's revenue per wafer for conventional DRAM could be twice that of HBM, with significantly higher profit margins.

The firm estimates that HBM prices need to increase by about three times to catch up with conventional DRAM in terms of revenue per wafer capacity. However, storage chip manufacturers may not raise HBM prices so aggressively, as they understand that excessively high HBM costs could hinder the development of the entire AI ecosystem and ultimately suppress storage demand.