电子行业存储芯片周度跟踪：24Q4NAND/DRAM同比增长，存储现货行情平稳

Investment Rating - The industry investment rating is "Maintain Buy" [6] Core Viewpoints - The global NAND Flash market size for Q4 2024 is projected to reach $17.41 billion, a decrease of 8.5% quarter-on-quarter but an increase of 42.4% year-on-year. The ASP and bit shipment volume for NAND Flash decreased quarter-on-quarter due to a slowdown in eSSD procurement and weak demand in mobile and PC applications [1][23] - The global DRAM market size for Q4 2024 is expected to be$ 29.345 billion, with a quarter-on-quarter growth of 13.5% and a year-on-year growth of 66.1%. The demand for HBM and high-capacity DDR5 driven by AI servers has led to record high storage revenues for Samsung and SK Hynix, although consumer demand remains weak, resulting in a decline in traditional DRAM sales revenue [2][23] - Samsung plans to launch "Mobile HBM" in 2028, which will significantly enhance performance and reduce power consumption through new packaging technology [3][24] Summary by Sections NAND Market - The NAND Flash market is experiencing a quarter-on-quarter revenue decline across all manufacturers, with a total market size of $17.41 billion in Q4 2024, despite a year-on-year increase of 42.4% [1][23] - The average price fluctuation for 22 types of NAND particles ranged from -2.78% to 1.75%, with an average change of 0.29% [1] DRAM Market - The DRAM market is projected to reach$ 29.345 billion in Q4 2024, with a quarter-on-quarter increase of 13.5% and a year-on-year increase of 66.1% [2][23] - The ASP for DRAM continues to grow quarter-on-quarter, while the overall bit shipment volume has decreased [2] HBM Market - The HBM industry is expected to benefit from the rapid development of advanced computing chips, with companies like Saiteng Co., Ltd. and others recommended for investment [4] Investment Recommendations - The report suggests focusing on the HBM industry chain and semiconductor recovery, recommending companies such as Dongxin Co., Ltd. and others for investment [4]