Report published September 30, 2026
South Korea Tech: Memory Pricing Tracker - 4Q26 DRAM/NAND ASP Forecast Overall Higher Than GSe
Goldman Sachs · September 30, 2026
TrendForce's 4Q26 ASP forecasts for PC DRAM (+13-18% qoq), server DRAM (+10-15% qoq), and NAND (+15-20% qoq) are higher than Goldman Sachs estimates, while mobile DRAM (+0-5% qoq) remains in line. Goldman Sachs maintains Buy ratings on Samsung Electronics (on Conviction List) and SK Hynix.
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Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Key Takeaways
- 1.TrendForce projects 4Q26 DRAM ASP for PC, server, and mobile to grow +13-18%, +10-15%, and +0-5% qoq respectively, with PC and server pricing tracking above Goldman Sachs estimates.
- 2.4Q26 NAND ASP is forecast to surge +15-20% qoq, powered by enterprise SSD pricing expansion of +23-28% qoq, surpassing Goldman Sachs' expectation of +9-11% qoq.
- 3.Goldman Sachs reiterates Buy ratings on Samsung Electronics (on Conviction List) with a 12-month target price of W490,000 and SK Hynix with a target price of W3,500,000.
Table of Contents
- PC DRAM: 4Q26 pricing forecast of +13-18%; higher than GSe
- Server DRAM: 4Q26 pricing forecast of +10-15%; slightly higher than GSe
- Mobile DRAM: 4Q26 pricing forecast of +0-5%; in line with GSe
- Conventional DRAM: 4Q26 pricing forecast of +10-15%; higher than GSe
- NAND: 4Q26 pricing forecast of +15-20% qoq; higher than GSe
- Price Target Risks and Methodology - Samsung Electronics
- Price Target Risks and Methodology - SK Hynix Inc.
Report data
Exhibit 1: DDR5 16Gb spot is trading at 20% premium vs. latest contract price
| Metric | Estimate | Context |
|---|---|---|
| 4Q26 PC DRAM ASP Growth Forecast | 13-18% | TrendForce expectation for 4Q26 PC DRAM pricing growth qoq, above GSe of +9% qoq. |
| 4Q26 Server DRAM ASP Growth Forecast | 10-15% | TrendForce expectation for 4Q26 server DRAM pricing growth qoq, slightly above GSe of +10% qoq. |
| 4Q26 Mobile DRAM ASP Growth Forecast | 0-5% | TrendForce projection for 4Q26 mobile DRAM qoq growth, largely in line with GSe of +3-4% qoq. |
| 4Q26 NAND ASP Growth Forecast | 15-20% | TrendForce expectation for 4Q26 NAND pricing growth qoq, higher than GSe of +9-11% qoq. |
| 4Q26 Enterprise SSD Pricing Growth Forecast | 23-28% | TrendForce expectation for enterprise SSD pricing growth qoq. |
Reports in this series
South Korea Tech: Memory Pricing Tracker is shown in chronological order through this edition, published on September 30, 2026.
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