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Memory prices continued the upward trajectory.

Recently, the PC component order upside after more than a year of inventory correction.
The PC market is expected to see low single-digit unit growth in 2024, driven by AI PCs and Windows 12.
Hopefully, the PC replacement surge will occur in 2024.

The server market has not yet shown any significant signs of improvement, despite some urgent demand due to low inventory.

Smartphone market has shown positive signs for a couple of months, with shipments exceeding expectations and related components seeing upside.
China market performed well around the Chinese National Holidays. Shipments declined significantly after the holiday, but still improved significantly compared to last year.
Both memory and AP orders increased, with Android AP orders seeing upside from high-end to low-end.
Additionally, AP orders have extended into 1Q24 so far. The 2Q24 status is still uncertain.

DRAM

Regarding the contract price, the smartphone related memory solutions’ price hike more than other segments since they had related solid demand.
Mobile DRAM ASP might increase more than 15% QoQ.
The price between RDIMM4 and RDIMM5 is wide, and it has to be narrow in order to help RDIMM5 penetrate the market.
RDIMM4 ASPs might increase around 20% in 4Q23.
64GB RDIMM5 might increase mid or high single range in average, while 96GB RDIMM5 price will increase much higher as 128GB shortage for AI demand.
The pricing trend for PC UDIMM4/UDIMM5 is different. UDIMM4 price might increase high single digit or more.
8GB UDIMM5 price might increase more than 16GB as suppliers are pushing for PC content growth and balancing the 8GB/16GB UDIMM5 margin.
Consumer market demand is not well, 4Gb DDR3/4 price increased more than other densities in October It seems the major customers haven’t taken the price yet.
Most of the contract prices have not yet been finalized, the prices will be updated after the final price is determined.

Channel market demand is lower than last month’s, and the preparation for 1111 event are complete.
Module price would be stable due to lack of demand stimulation.

This month, in the spot market,
16G DDR4 x8 original brand component up mid single digit.
16G DDR4 x8 ETT/UTT grade component up mid single digit.
8G DDR4 x8 original brand component up mid to high single digit.
8G DDR4 x8 ETT/UTT grade component up high single digit.
4G DDR3 x16 original brand component up mid single digit.
4G DDR3 x16 ETT/UTT grade component up mid single digit.

NAND

NAND Flash vendors have high intention to pull up the NAND price up more and less willing to ship goods without significant price up.
Raw NAND wafer price has raised a lot, which will further drive up contract prices.

Regarding the Contract Prices,
UFS prices might increase more than 25% this quarter, due to relatively good demand compared with other segments.
eSSD price would increase more than 20% as well, certain customers with low inventory requested rush orders that cannot be fulfilled by the suppliers.
Client SSD price might increase 10% around this quarter, which is less other segments.
However, most of the contract prices have not yet been finalized, the prices will be updated after the final price is determined.

Channel SSD prices have increased significantly this month, but the overall sales might not as good as 3Q23.

Based on the current production cuts, overall suppliers’ inventories are expected to decrease in 4Q23 and 1Q24.
However, suppliers should keep production output low unless solid demand returns, in order to maintain the price upturn.

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