存储芯片周度跟踪：群联称NAND模组需求持续上升，DRAM结构性分化严重

Investment Rating - The industry investment rating is maintained as "Overweight" [1] Core Viewpoints - NAND market prices show slight fluctuations, with demand for NAND modules continuing to rise. The overall shipment growth rate for NAND bits in the first three quarters of 2024 reached 30%, marking a historical high for the same period [1][15] - DRAM prices have slightly decreased, with significant structural differentiation observed. The average price fluctuation for DRAM products ranged from -3.08% to 0.00%, with an average decline of -0.85% [1][11] - The market for high-capacity NAND storage modules is experiencing sustained demand, while the low-end SSD market remains sluggish [1][15] Summary by Sections 1. Weekly Price Tracking of Storage Chips - NAND prices fluctuated between -0.69% and 4.35%, with an average change of 0.96%. Out of 22 NAND products, 14 saw price increases, while 5 experienced declines [1] - DRAM prices showed a range of -3.08% to 0.00%, with 16 products declining in price and 0 increasing [1] 2. Industry News - LPDDR prices have slightly decreased due to oversupply in the low-end segment, with a cautious outlook for the storage market post-holiday [11] - The channel market has not shown signs of recovery, with SSD and memory prices remaining stable [12] 3. Company Dynamics - Dongxin Co. has utilized part of its raised funds for share buybacks, indicating a strategic move to enhance shareholder value [17] - Beijing Junzheng reported that its DRAM product sales are primarily from DDR3, reflecting market trends [17] 4. Company Announcements - Key announcements include stock listings and share buybacks from various companies, indicating active corporate strategies in the storage sector [18] 5. Market Outlook - The HBM industry is expected to benefit from the rapid development of advanced computing chips, with companies like SK Hynix and Micron ramping up production of new HBM products [1][13][14] - The overall storage chip industry is anticipated to recover as inventory levels normalize and demand from AI applications increases [1]