全球半导体：2026 年 HBM 过剩预计缓解，HBM4 规格升级-Global Semiconductors_ 2026E HBM Oversupply Expected to Ease on HBM4 Spec Upgrade

V i e w p o i n t | 2026E HBM Supply to Decline on HBM4 Spec Upgrade — As HBM4 spec requirement has become more stringent, we expect all the HBM suppliers have to restart their engineering sampling (ES) and customer sample (CS) process for whom requested the upgraded spec. That said, we expect Samsung to possibly meet the new requirement, as it utilizes 1cnm for HBM core dies and 4nm foundry process for base dies. SK Hynix is also well-positioned given its track record of submitting ES samples in 1Q25, the ...