You might be forgiven for thinking there’s something very worrisome going on in the PC hardware industry, what with memory modules staying at their skyrocketed shortage-induced prices. But don’t worry folks, because memory makers are doing very well indeed, with revenue shooting up to nearly $100 billion as of the last quarter, according to Counterpoint Research.
Part of that revenue has fed into new-high market caps (company value, adding up outstanding shares) for SK hynix and Micron, both of which have just hit $1 trillion, catching up with Samsung, which achieved the same earlier in the month (via Reuters).
It’s worth noting that, according to Counterpoint’s charts, despite Micron and SK’s new highs, it’s Samsung that has been chomping through market share. In Q4 2025, Samsung held 36% of the DRAM market, SK had 32%, and Micron had 22%. Now, Samsung has 38% and SK 29%, with Micron remaining at 22%.
CXMT—ChangXin Memory Technologies, a Chinese memory maker—is also worth looking at, as its market share has climbed from 3% at the start of 2025 up to 8% now.
The company’s memory has reportedly been found in Corsair DDR5 modules for the Chinese market, so it seems that its increased market share is starting to move the company into the bona fide mainstream. Which isn’t to say Chinese memory will be a much cheaper alternative for Western end-users like you and I, at least not if our Nick’s market research is anything to go by.
Apparently, another “blockbuster” quarter is in store for memory makers with another 50% price increase expected. Good news for Samsung, SK, and Micron, but not so good for its customers, and certainly not very good for downstream customers such as PC gamers.
This being said, there’s much that can change in markets given the very real human element. Samsung has just swerved a planned factory strike, but industrial action is still a looming threat not just for Samsung but for semiconductor makers in general, including TSMC.
And then, of course, there’s the fact that political action and war can have a big impact on materials and supplies, as we’re seeing with the war in Iran. Oh, and of course, there’s the ever-looming threat of the AI bubble bursting.
Until then, though, it seems like height after height for the DRAM bigwigs.
