Woofun AI reports that Bernstein’s global storage tracking indicates June DRAM contract prices rose month-over-month, projecting a 74% increase for the second quarter of 2026 compared to the first. Server DRAM prices are expected to jump 60% to 67%, while Mobile DRAM approaches an 80% rise, fueled by sustained demand from server and mobile sectors. Spot market tightness is evident, with PC DRAM spot prices climbing 5.6% to 11.5% and Server DRAM increasing 6.1% to 26.4% in June. Server DDR5 spot prices notably exceed contract levels, reflecting continued absorption of capacity shifts by AI and cloud providers.

Despite strong Q2 performance, Bernstein anticipates a significant slowdown in price growth during the third quarter, with TrendForce predicting traditional DRAM increases of only 13% to 18%. Customer adjustments in PC and mobile sectors may eventually lead to demand destruction. NAND markets show mixed signals: wafer spot prices fell 3% to 4% in June, though contract prices rose slightly.

However, robust gains in mobile NAND and SSDs, potentially reaching 70% to 80%, are expected to drive overall NAND contract prices up by approximately 60% in Q2. The cycle remains AI-dependent, with U.S. cloud providers finalizing long-term agreements while Chinese counterparts negotiate. Bernstein maintains positive ratings on Samsung, SK Hynix, Micron, and SanDisk, but remains cautious on Kioxia, noting that prices will likely normalize between late 2027 and 2028 as new capacity comes online.