DRAM Prices Surge 74% in Q2 2026; Bernstein Expects Rally to Extend Through 2027

According to Bernstein's global storage monthly tracker released on July 8, DRAM contract prices rose 74% in Q2 2026 compared to Q1, with server DRAM prices up 60–67% and mobile DRAM climbing near 80%. June spot prices also showed strength, with PC DRAM rising 5.6–11.5% and server DRAM up 6.1–26.4% month-over-month.

Bernstein forecasts the pace of price increases will slow significantly in Q3, with TrendForce predicting DRAM prices will rise only 13–18% in the third quarter, down from Q2's steeper gains. The investment bank maintains positive ratings on Samsung, SK Hynix, and Micron, while noting storage prices could remain strong through 2027 before normalizing in late 2027–2028 as long-term contracts take effect and new capacity comes online.