Cuts to wafer starts starting to drive memory prices higher, says Susquehanna

Recent checks with DRAM/NAND manufacturers and the channel players indicate that memory average selling price upside in Q4 is “now material” and driven, by the most part, by recent additional cuts to wafer starts, while a stronger than expected smartphone build is also helping with the demand recovery, according to .Susquehanna analyst Mehdi Hosseini. The firm, which said it will update its estimates for Memory names under coverage in early December following planned meetings in Korea/Taiwan, tags its update as relevant for Seagate (STX), Western Digital (WDC), Pure Storage (PSTG), NetApp (NTAP), HP Enterprise (HPE), Micron (MU), Rambus (RMBS), Silicon Motion (SIMO) and Supermicro (SMCI).