Overview
- Micron Technology and Sandisk have surged in 2026, up 46% and 169% respectively, as investors price in stronger memory markets.
- Manufacturers are shifting capacity to high‑bandwidth memory to serve AI accelerators, creating shortages in smartphone and PC memory.
- Bank of America estimates DRAM industry revenue could climb 51% this year on a 33% increase in average selling prices.
- HBM, a premium form of DRAM used in AI chips like GPUs and custom accelerators, is seeing exceptional demand from data centers.
- Micron, which derives about 80% of its revenue from DRAM, and peers report that demand is outpacing supply, pushing prices and earnings higher.