October 6, 2025 08:00 PM GMT Greater China Semiconductor | Asia Pacific Old Memory Could Last for a Longer Time Along with stronger mainstream memory, we see stronger pricing upside for DDR4&3 in 4Q and more signs of pricing sustainability for legacy NAND and NOR going into 2026. It is time to look at peak valuations. We revise up price targets and reiterate our Top Pick Winbond. Key Takeaways Never too late on mainstream memory: Our US analyst Joe Moore upgraded Micron to OW (link), stating it's not too la ...