美光科技的内存供应压力依然无缓解迹象

投资观察
Dec 19, 2025

1217 ET - 美光科技预计内存供应将持续紧张,直到2027日历年的很长时间,这对人工智能客户几乎没有缓解,摩根大通分析师表示。据分析师称,美光在2026年所有的高带宽内存生产已经在价格和数量协议上锁定。任何增量的位容量增加可能会被客户迅速抢购。他们指出,供应紧张将因美光向高带宽内存4的转型而加剧,该产品将比当前版本消耗多33%的晶圆。同时,GPU、XPU和人工智能服务器对内存内容的需求也在快速增加。美光股价上涨12%。

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