BlockBeats News, September 7 - Serenity stated that memory inventories at Samsung and SK Hynix have dropped to less than 10 days of supply, potentially leading to severe shortages next year. KB Securities expects the memory market could face the "most tightly constrained supply conditions in history" by 2027.

In response, Serenity noted that KB Securities projects memory costs as a share of AI infrastructure spending will rise from approximately 40% this year to 57% next year, with TrendForce's forecast even reaching 68%. Meanwhile, related memory stocks have fallen roughly 38% from their highs over the past three months, and based on next year's expected earnings, their price-to-earnings ratios have dropped to around 3x.

On the NAND front, market commentary surrounding Phison also points to extremely tight supply conditions in 2027. Serenity mentioned that surging NAND prices have already forced some Chinese consumer-grade storage module makers to clear inventories, which also provides Phison with opportunities to stock up at lower prices, indicating that localized price pullbacks and overall supply shortages can coexist.

Serenity stated that against the backdrop of sustained AI demand growth and a further rising cost share of memory in AI infrastructure, Korean memory stocks as well as U.S.-listed companies such as MU and SNDK may benefit from supply-demand tightness and infrastructure spending growth starting in 2027.