Memory Stocks Surge#
Memory stocks experienced a significant increase on Monday, driven by reports of a sharp rise in DRAM (Dynamic Random-Access Memory) prices that exceeded industry expectations in the first quarter of 2026.
DRAM Price Increases#
Since the Lunar New Year holiday in China, DRAM prices have surged dramatically. According to Digitimes, prices for a 64GB DDR5 RDIMM module rose by 150% compared to the previous quarter. Additionally, mobile DRAM prices for 12GB LPDDR5X modules increased by 130%, while older 8GB notebook modules saw a staggering 180% jump. These increases surpassed earlier industry estimates, which anticipated a 100% rise in DRAM prices for the quarter.
Impact on Major Manufacturers#
This surge in prices has positively impacted major memory chip manufacturers, including Samsung, Micron Technology, and SK Hynix. In the stock market, shares of Samsung Electronics and SK Hynix saw increases of 5.3% and 9.8%, respectively, while Micron's shares rose by 4.8% in New York.
Continued Demand and Supply Challenges#
Jordan Klein, a specialist at Mizuho TMT, noted that demand for both AI-focused HBM (High Bandwidth Memory) and conventional DRAM is expected to continue outpacing supply throughout 2026. He emphasized that no significant supply increases are anticipated until late 2026 or early 2027. Klein also mentioned that while HBM production is progressing, challenges remain, leading to a renewed focus on conventional DRAM, which is currently more profitable.
Samsung, with the largest capacity for conventional DRAM among manufacturers, stands to benefit the most from these price increases. Klein also indicated that Micron and SK Hynix are likely to gain from favorable pricing trends in mobile and PC DRAM through 2026 and 2027.