闪存龙头，涨价50%

Core Viewpoint - The demand for AI data centers is surging, coupled with limited wafer supply, leading to a widening supply-demand gap in the storage industry. This has prompted major players to issue price increase notices, with SanDisk raising NAND flash contract prices by up to 50% in November, marking its third price hike this year [4][5][6]. Group 1: NAND Flash Market Dynamics - SanDisk's recent price increase of 50% for NAND flash contracts is significantly higher than the previously expected range of 5%-10% by TrendForce, causing a ripple effect throughout the storage supply chain [5][6]. - Following SanDisk's price hike, several module manufacturers, including Transcend, have decided to suspend shipments and reassess their pricing strategies, anticipating further price increases [6][8]. - SanDisk's management has expressed optimism regarding NAND flash market demand, noting a shift from quarterly to multi-quarter contracts as customers seek supply stability, with expectations that data centers will become the largest demand source for NAND flash by 2026 [7][8]. Group 2: Supply Chain and Pricing Trends - The current storage shortage is described as the most severe in 30 years, driven by AI demand, with SSD demand increasing as data center hard drive supplies tighten [7]. - TrendForce reports that the spot prices for NAND flash are rising sharply due to limited wafer resources and manufacturers holding back inventory in anticipation of further price increases [8]. - In the DRAM segment, major manufacturers have paused contract pricing, with Samsung leading the way, resulting in a 25% surge in DDR5 spot prices within a week [9]. Group 3: Market Outlook and Recommendations - Analysts suggest that the current storage price increase cycle is more intense and sustained than previous cycles, indicating a structural shift driven by AI rather than just cyclical supply constraints [9]. - Investment opportunities are highlighted in companies such as Jiangbolong, Shannon Microelectronics, and others within the storage sector, as the market undergoes significant changes [9].