Bank of America Refutes Three Memory Market Bearish Claims, Says Chip Shortage Possible by 2027

According to Bank of America's latest memory industry report released recently, market concerns about a memory chip industry downturn are largely unfounded, with the company asserting that positive fundamentals remain intact. The bank visited chip suppliers and found Meta continues to increase orders for HBM, LPDDR5, and eSSD despite rumors of production cuts. On Chinese chipmaker Changxin Memory potentially entering Apple's iPhone supply chain, BofA noted actual volumes would be limited due to U.S. export controls, technical specification gaps, and strong IP moats held by Korean and American competitors. South Korea's proposed 800 trillion won semiconductor cluster won't produce meaningful output before 2033, while current capex plans through 2035 show no cycle peak signals. Supporting data includes South Korea's June semiconductor exports reaching $44.8 billion, up 199% year-over-year for a sixth consecutive month of triple-digit growth. U.S. tech giants' combined 2026 capex is projected at $700 billion, up 80% annually.
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