Citi analysts: HBM demand to surge 62% in 2027 and another 69% in 2028
TiernanRayTech · x · 2026-09-16
- Citing Citi analyst Peter Lee's team, Tiernan Ray argues that supply, not demand, is the thing to watch in memory chips: Micron, SanDisk, Samsung and SK Hynix will under-sell demand for years.
- Makers have stopped forecasting total demand since they can't even meet current orders, as AI-driven DRAM/NAND shortages drove prices sharply higher this year.
- Citi forecasts global HBM bit demand to jump 62% in 2027 versus this year, and another 69% in 2028.
- The author adds that AI panic won't meaningfully dent chip sales.
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