TechFlow News, June 29, according to TechFlow Research, Bank of America released a global storage technology research report on June 26, believing that this cycle is different from the past and has a structural foundation.
Micron's May quarter revenue was $41 billion, up 346% year-over-year, gross margin 85%, operating margin 81%. August quarter guidance $50 billion, continuing to move upward.
Bank of America proposed five major structural changes: shortage may continue until 2030, long-term contract price locking, difficulty in building new factories, limited capacity expansion, explosion in free cash flow.
Global DRAM and NAND combined revenue in 2026 is estimated at $87.68 billion, up 308% year-over-year. DRAM spot prices rose for five consecutive weeks, cumulative increase of 20%.
Risk signals: NAND spot prices fell 5%, ASP growth rate expected to rise 234% in 2026, drop to 8% in 2027, turn to a decline of 13.3% in 2028, signs of slowing growth have already appeared.
⚠️ The above is compiled from Bank of America's public research report and does not constitute investment advice. The market involves risks; caution is advised when entering.
