Morgan Stanley predicts that the growth rate of DRAM contract prices is expected to peak in the fourth quarter of 2026.

Morgan Stanley expects that the growth rate of DRAM contract prices will peak in the fourth quarter of 2026, after which the year-on-year growth rate may see a significant decline. It will be difficult to see a situation where prices increase fourfold in a year again, and the valuation of storage companies needs to be reassessed.