September 15, 2025 10:06 PM GMT Semiconductor Capital Equipment | North America Framing the Memory WFE Upside Stronger memory prices could push 2026 memory WFE to a $50bn bull case (vs MSe $43.8bn) driving 7%/5% upside to our CY26 LAM/AMAT EPS forecasts. Key Takeaways Memory pricing has clearly improved. Conditions in DRAM and NAND have improved as our checks indicate very large orders from hyperscalers for eSSD and DDR5 pricing significantly higher in Q4. Supply demand has tightened especially in NAND , as ...