NOR flash is in "severe supply shortage" — high-density chips seeing 90–110% price hikes in H2.
Who sells both high-density NOR and SLC NAND? $ESMT.
H1 pricing:
NOR: +100–120%
SLC NAND: +130–150%
H2 outlook:
High-density NOR: +90–110%
SLC NAND: ~70–75%
Yes, $WBX $MXICY $GDEVF also play this space. But $ESMT looks like the largest beneficiary relative to size — they're heavy in high-density NOR (>256Mb).
One risk: mid/low-capacity products (≤128Mb) seeing new Chinese supply come online, so consumer-grade pricing may moderate.
But overall? This is overwhelmingly bullish for legacy memory players. ASP expansion continues.
Who sells both high-density NOR and SLC NAND? $ESMT.
H1 pricing:
NOR: +100–120%
SLC NAND: +130–150%
H2 outlook:
High-density NOR: +90–110%
SLC NAND: ~70–75%
Yes, $WBX $MXICY $GDEVF also play this space. But $ESMT looks like the largest beneficiary relative to size — they're heavy in high-density NOR (>256Mb).
One risk: mid/low-capacity products (≤128Mb) seeing new Chinese supply come online, so consumer-grade pricing may moderate.
But overall? This is overwhelmingly bullish for legacy memory players. ASP expansion continues.
