Goldman Sachs: TrendForce Raises PC DRAM Price Forecast to 18–23%

According to TrendForce, a Goldman Sachs report dated August 31 raised its 3Q26 PC DRAM price forecast to 18%-23% (previously 15%-20%), maintained the server DRAM forecast at 13%-18%, lowered the mobile DRAM forecast to 8%-13%, and noted that the mobile NAND forecast of 20% was largely in line with Goldman Sachs’ expectations. In August, spot market prices for DDR4 8GB and DDR5 8GB both rose 2% month-over-month, with DDR5 trading at a 6% discount to DDR4; the premium for DDR5 64GB server modules widened from 15% to 16%. TrendForce attributes the short-term weakness in mobile DRAM demand to elevated customer inventories and expects the quarterly price increase to further slow to 0%-5% in 4Q26, though its long-term price outlook for 2027 remains positive, with suppliers continuing to shift capacity toward server DRAM and HBM. Goldman Sachs maintains buy ratings on Samsung Electronics and SK Hynix.