Global Memory Global Markets Research EQUITY: MEMORY AI market concerns and the memory outlook Supply constraints remain central to our investment thesis We remain constructive on memory and expect supply constraints to persist through at least 2028F Following the news on CXMT's (688825 CH, Buy) progress in 4F² technology, concerns over AI revenue growth and neocloud funding have weighed on sentiment. We continue to view market concerns over CXMT's 4F² transition as excessive ( report ). In our view, the ma ...

30 September 2026 | 11:49PM SGT Equity Research South Korea Tech: Memory Pricing Tracker: September 2026: 4Q26 DRAM/NAND ASP forecast overall higher than GSe TrendForce expects 4Q26 DRAM ASP for PC/server/mobile to increase by +13-18%/+10-15%/+0-5% qoq, while forecasts NAND ASP to grow 15-20% qoq during the same period. TrendForce estimates are higher than GSe for PC DRAM, server DRAM, and NAND, while inline for mobile DRAM. We reiterate our Buy ratings on SEC (on CL) and Hynix. PC DRAM: 4Q26 pricing foreca ...