Memory Chip Shortage Drives Sector Split: DRAM Surge, Consumer Electronics Slide

DRAM prices have surged over 600% amid persistent supply constraints, deepening sectoral divides. Consumer electronics and tech firms report margin compression and production cuts as they scramble to lock memory supplies, raise prices, or reduce device memory. The Bloomberg Consumer Electronics Index has fallen 12% since late September 2026, while memory makers outperformed, with SK Hynix up over 150%, Kioxia and TSMC (2408-TW) up about 280%, and SanDisk over 400% since late September. AI infrastructure expansion, particularly toward high-bandwidth memory (HBM) for GPUs, is shifting production and extending the duration of the supercycle. Analysts warn that the tightness may persist into the remainder of 2026, with traditional DRAM and NAND facing continued upward pricing pressure despite疲弱终端 demand.