This Week's Several Memory News:

English summary

1. The market logic is still worried about weak smartphone demand in East China and rising NA-ND channel inventory, fearing that DR-AM/NA-ND cycle has peaked. But in reality, inventory of core suppliers and Hy-p-e-r-s-c-a-l-e-rs is actually barely sustainable. NA-ND inventory status: suppliers only have 2.6 weeks (normal 5 weeks), cloud providers only 3 weeks (normal 7 weeks). DR-AM inventory status: suppliers only 2.7 weeks (normal 5 weeks) + cloud providers only 2.5 weeks (normal 7 weeks). 2. Although the market always fears weak demand, the supply-demand adequacy ratio of DR-AM/NA-ND suppliers actually plummeted from 70% to 50%. Extremely low inventory plus strong AI demand will cause sustained shortage in the memory market. July PC DR-AM contract prices rose 15-20% MoM, implying Q3 quarterly increase of 30-40%, far exceeding market expectations of 13-18%. ...