Some thoughts on memory pricing and demand dynamics

The author argues that memory is pricing itself out of its own demand, as consumer devices absorb price spikes and enterprise buyers draw down inventory. OEM supply checks suggest memory has risen to 35-38% of a PC's bill of materials, causing steep shipments drops in PCs and handsets. Meanwhile, Samsung is expected to shift wafers away from HBM toward regular DRAM due to comparable margins, potentially keeping HBM tight while regular DRAM loosens. Open article →