中信证券：三季度利基存储涨势扩大 看好供应链表现

Group 1 - The core viewpoint is that mainstream and niche storage prices are expected to rise comprehensively by Q3 2025, supported by the traditional peak season for consumer electronics, leading to positive performance for storage manufacturers [1] - DDR4 prices are increasing, and the pricing logic for NOR Flash is also positive, with a strong recommendation for leading storage chip design companies, as well as a suggestion to pay attention to storage module distributors [1] - Some DDR4 prices have surged past DDR5 prices, and as original manufacturers gradually exit the DDR4 market, the penetration rate of DDR5 is expected to accelerate [1]