Berenberg: Conventional DRAM prices may continue to rise in 2027, HBM faces profit catch-up pressure

BlockBeats News, June 22nd - Analysts at Bernstein stated in a report that after experiencing a price surge of about 4.5 times from the third quarter of 2025 to the second quarter of 2026, the price of commodity DRAM may continue to rise in 2027. Therefore, the current commodity DRAM has already reached a comparable, if not higher, average selling price per bit compared to High Bandwidth Memory (HBM). Bernstein pointed out that considering the higher bit density and yield, this year's revenue per wafer for commodity DRAM may be double that of HBM, enjoying a significantly higher profit margin.

The institution estimated that HBM prices would need to increase by about three times to catch up with commodity DRAM in terms of revenue per wafer. However, memory chip manufacturers may not aggressively raise the price of HBM because they understand that the high cost of HBM may not be conducive to the development of the entire artificial intelligence ecosystem and may ultimately suppress memory demand.