野村全球存储器研究团队在最新报告中指出，2027年存储器供应量和价格已于2026年10月通过长期协议完成锁定，且价格出现反弹。更关键的是合同中的违约条款：取消订单或压价的罚金可达年度需求价值的50%—100%。这意味着，即便某家巨头事后判断投资回报不划算，退出的即时代价也极高——违约成本本身构成了需求的“粘性”。
Source Link野村全球存储器研究团队在最新报告中指出，2027年存储器供应量和价格已于2026年10月通过长期协议完成锁定，且价格出现反弹。更关键的是合同中的违约条款：取消订单或压价的罚金可达年度需求价值的50%—100%。这意味着，即便某家巨头事后判断投资回报不划算，退出的即时代价也极高——违约成本本身构成了需求的“粘性”。
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