At the opening of the US stock market, the Dow Jones Industrial Average rose 0.09%, while the Nasdaq Composite Index fell 0.6%.
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Bernstein: The storage bull market could continue into 2027, but the steepest part of the rise has passed.
According to Mars Finance, on July 8th, Wall Street investment bank Bernstein released its monthly global memory tracking report, stating that DRAM contract prices continued to rise month-on-month in June, implying that the average price of traditional DRAM in Q2 2026 will increase by approximately 74% compared to Q1. Demand from servers and mobile devices remains the main driver, with Server DRAM prices expected to rise by approximately 60% to 67% in Q2, and Mobile DRAM by nearly 80%. The spot market also shows tight supply. PC DRAM spot prices rose 5.6% to 11.5% month-on-month in June, while Server DRAM rose 6.1% to 26.4%. The report stated that Server DDR5 performed particularly strongly, with spot prices significantly higher than contract prices, indicating that demand from AI and cloud service providers is still absorbing the new capacity shifted by suppliers to the server market. However, Bernstein also cautioned that the rate of price increases will slow significantly in Q3. TrendForce predicts that traditional DRAM price increases will slow to 13% to 18% in the third quarter, down from the steep increases in the second quarter. PC, mobile phone, and consumer electronics customers are reducing configurations or adjusting purchasing paces; while demand disruption is not yet fully apparent, the report believes it will eventually occur. The situation for NAND is more divergent. In June, NAND wafer spot prices actually fell by 3% to 4%, while wafer contract prices rose only slightly by 0.3% to 3.7%. However, strong price increases in mobile NAND and SSDs will still drive overall NAND contract prices up by about 60% in the second quarter. Bernstein stated that SSD and mobile storage price increases could reach 70% to 80%, offsetting the weakness on the wafer side. The key variable in this storage cycle remains AI. Cloud service providers and server customers continue to prioritize securing supply; some US CSPs have completed long-term agreement negotiations, while Chinese CSPs are still negotiating. Long-term agreements help smooth future price declines but may also limit the room for some suppliers to continue raising prices. In its investment conclusions, Bernstein maintains positive ratings for Samsung, SK Hynix, Micron, and SanDisk, while remaining cautious on Kioxia. The report believes that storage prices may remain strong until 2027, but will gradually normalize from the second half of 2027 to 2028 as long-term agreements take effect and new capacity comes online.
South Korean beauty and retail stocks led the market gains, and Gate.com continues to expand its investment portfolio in South Korean stocks.
According to ChainCatcher, Gate's market data shows that the South Korean stock market was active today. Manyo Factory, a cosmetics stock, reached $11.60, up 18.43%; Heung Koo Petroleum reached $6.88, up 14.72%; and IT'S HANBUL reached $7.25, up 13.51%, with several popular South Korean stocks leading the market gains. Gate has established a 24/7 trading service system covering the three core markets of US, Hong Kong, and South Korea, supporting over 10,000 US stocks and ETFs, over 1,500 Hong Kong stocks, and over 1,000 South Korean stocks, totaling over 12,500 stocks and ETFs globally. Users can participate in global stock investment through their Gate unified account using USDT, supporting fractional share transactions starting from as low as 0.01 shares, and enjoying stock dividend rights. The platform also supports cross-brokerage transfers for US and Hong Kong stocks, as well as corporate actions such as stock splits and consolidations, further optimizing the stock investment service experience.
Momenta, dubbed the "first stock in physics AI," has completed its IPO, with its market capitalization once exceeding HK$70 billion.
Odaily Odaily reports that Momenta, dubbed the "first stock in physical AI," has completed its IPO on the Hong Kong Stock Exchange. The offering price was HK$295.6 per share, and the public offering was oversubscribed by 414 times. The stock opened slightly higher, with its market capitalization briefly exceeding HK$70 billion. Assuming the "greenshoe option" (over-allotment option) is fully exercised, the global offering consisted of approximately 22.93 million shares, raising approximately HK$6.8 billion. According to ZhenFund, Momenta announced that its mass-produced business has surpassed 1 million units equipped with its technology.
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