内部资料泄露！存储芯片缺货真相曝光

Core Insights - The general DRAM supply growth is expected to be limited until 2028, excluding HBM and SOCAMM [1] - The server market share is projected to increase significantly from 38% in 2025 to 53% in 2030, driven by surging AI demand [3] - General PC DRAM production growth will not meet demand by 2028, despite new DRAM wafer fabs expected to increase capacity [4] Production and Inventory - Supplier inventory levels are sharply declining, but capacity growth is anticipated to be limited compared to previous market booms [1][5] - Server demand is expected to drive B/G growth by 24% [1] - The PC shipment volume is expected to remain similar to this year in 2026, with AI PC market expansion leading to an increase in DRAM adoption [5] Market Trends - By 2026, AI PCs are expected to account for 55% of total PC market share [5] - The demand for server eSSD is projected to grow by 36% due to the surge in AI demand [5] - The consumer market is not expected to see significant growth, but QLC products are anticipated to expand [5] Investment Focus - The company plans to primarily invest in the server sector [7] - DRAM and HBM demand are causing relative shortages in NAND flash supply, leading to a significant decline in inventory levels and upward price pressure [7]