Server DRAM Margins Top HBM, Price Forecast Up - 1Q26

Last Modified

2026-01-28

Update Frequency

Aperiodically

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PDF

Persistent DRAM supply shortages have empowered suppliers, driving sharp upward revisions in contract prices. High-margin Server DRAM now leads profitability, prompting capacity shifts. Consequently, pricing trends remain strong with limited negotiation room for buyers.

Key Highlights

Supplier Dominance: Persistent supply shortages empower DRAM suppliers, leading to significant upward revisions in contract price forecasts.
PC Market Dynamics: Despite shipment adjustments, inventory gaps remain. OEMs favor original manufacturers over expensive module makers.
Profitability Shift: Server DRAM has surpassed HBM to become the highest-margin product, driving capacity allocation.
Price Trend: Strong demand and capacity shifts towards server applications ensure prices remain high, leaving buyers with minimal negotiation space.

Price Ranges for 1Q26 PC DRAM and Server DRAM Contract Negotiations Have Been Raised Further as Supply Gap Remains Significant
Procuring Products Directly from DRAM Suppliers Is Still More Attractive Because Module Houses Actively Pass on Chip Costs
Server DRAM Suppliers Shift Product Availability Repeatedly; Supply Void Persists
Upward Revisions Expected for Contract Price Hikes in 1Q26 and 2Q26
- DRAM Price QoQ Projections by Application
- ASP per Gb of PC DRAM and Server DRAM

DRAM Price QoQ Projections by Application