#BernsteinSaysMemoryBullMarketToLastUntil2027


📈 The global semiconductor supercycle has a long runway ahead. According to Bernstein’s monthly global storage tracking report, the memory bull market is structurally positioned to last until 2027.

While the steepest, hyper-growth phase of the price surge has officially passed, the underlying fundamentals remain robust. Data highlights from the latest cycle include:

Q2 DRAM Surge: Average DRAM contract prices skyrocketed 74% quarter-over-quarter, powered by an 80% spike in Mobile DRAM and an over 60% climb in Server DRAM.

The Q3 Cooling Phase: Price appreciation for traditional DRAM is projected to slow to 13%–18% as consumer electronics and smartphone demand softens globally.

NAND Bifurcation: Wafer spot prices are experiencing mild softening, but contract values for high-end enterprise SSDs and mobile storage are holding firm, up roughly 60%.

The primary engine sustaining this multi-year upcycle is the insatiable infrastructure demand from AI cloud providers locking in structural Long-Term Agreements (LTAs). Bernstein maintains high-conviction Positive/Outperform ratings on Samsung, SK Hynix, Micron, and SanDisk, while urging clear defensive caution on Kioxia due to its lack of HBM visibility.

#BernsteinSaysMemoryBullMarketToLastUntil2027 #Semiconductors #AIHardware #DRAM
DRAM5.24%
MU4.33%
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