South Korea Tech: Memory Pricing Tracker: September 2026: 4Q26 DRAM/NAND ASP forecast overall higher than GSe

TrendForce expects 4Q26 DRAM ASP for PC/server/mobile to increase by +13-18%/+10-15%/+0-5% qoq, while forecasting NAND ASP to grow 15-20% qoq during the same period. TrendForce estimates are higher than GSe for PC DRAM, server DRAM, and NAND, while inline for mobile DRAM. We reiterate our Buy ratings on SEC (on CL) and Hynix. September DDR4 8GB increased by +4% mom to $148 while DDR5 8GB price stayed at $133, hence DDR5 pricing discount compared to DDR4 increased to 10%. Server DDR5 64GB module pricing saw a slight increase of +1% mom to $1,515, hence the pricing premium for DDR5 compared to DDR4 increased to 17%. For 1Q27, TrendForce estimates PC DRAM pricing to increase by +3-8% qoq, server DRAM ASP to increase by +3-8% qoq, and mobile LPDDR5X and LPDDR4X pricing growth at +13-18% qoq and +5-10% qoq, respectively.