“电子茅台”内存条一天三价！华强北不敢贴标，瑞银预测传统DRAM将成“新利润引擎”

Core Viewpoint - UBS believes that the traditional DRAM market is experiencing a tightening supply due to a large-scale shift in industry capacity towards HBM, while demand remains robust, leading to a significant enhancement in pricing power [1] Group 1: DRAM Market Dynamics - The gross margin for Micron's traditional DRAM is expected to reach 67% in Q2 2026, surpassing HBM's 62% for the first time [1] - This advantage is projected to continue expanding, with traditional DRAM gross margins reaching 71% in Q3 and 75% in Q4 [1] Group 2: Market Trends and Pricing - According to reports, memory modules have become "electronic Maotai," with prices rising faster than gold, and a 64G DDR5 memory kit exceeding 4000 yuan, which is 1000 yuan more expensive than a PS5 gaming console [1] - Retailers in Huaqiangbei have stopped labeling prices for memory modules due to rapid price fluctuations, with changes occurring multiple times a day [1] Group 3: Future Outlook for Storage Chips - Wanlian Securities reports that the storage chip sector is likely to enter a new prosperity cycle driven by AI, with stronger demand, accelerated technology iterations, and upgraded supply-side capacity control strategies [1] - The limited new capacity on the supply side in the short term suggests that the supply-demand gap is expected to persist, indicating a stronger sustainability of price increases in the storage industry [1]