Memory & NAND Prices Surged Over 90% In Q1 2026 & Another 20% Hike Expected In Q2

Q1 2026 has so far seen memory and NAND prices surge by over 90%, and another 20% hike is expected in the coming quarter of Q2.

Both PC & Server Memory+NAND Prices Shot Over 90% In Q1 2026 (So Far), & Latest Reports Suggest Even More Hikes For Q2

According to a report published by Counterpoint, both memory and NAND prices saw a 90% price surge in Q1 2026, with more on the way. The report is based on the research firm's own memory price tracker & showcases the current situation of the PC and server markets affected by vast DRAM & NAND shortages. The following are the main highlights of the report:

• Memory prices have soared 80%-90% in Q1 2026 so far compared to Q4 2025, with DRAM, NAND, and HBM all hitting record-breaking highs.
• To mitigate cost pressures, OEMs are reducing memory content per device or prioritizing premium lineups equipped with LPDDR5, where price pressure is relatively manageable.
• Conventional DRAM margins surpassed HBM in Q4 2025, while manufacturer operating margins are expected to hit historic peaks with record-breaking earnings in Q1 2026.

The report covers memory prices up till February 2026, which still isn't over, yet, memory and NAND prices are estimated to hit an average price surge of over 90%, which is doubling their previous rates compared to Q4 2025.

In Q4 2025, PC memory prices first saw hikes of around 35% while NAND prices soared by 20%. This was a smaller increase than the server market, which was seeing prices blow up by 76% for memory and 60% for NAND. For the current quarter of Q1 2026, PC memory and NAND prices are estimated to hit over 90 percent and 100 percent, respectively. For servers, the prices are estimated to hit over 98 percent and 90 percent, respectively.

The report also estimates an average 15-20% price hike for Q2 2026, though we can't say for sure how much memory and NAND prices will surge as the demand for AI is unprecedented, and more orders can further stress existing client and data center markets.

With that said, we have seen certain memory and NAND prices hit far beyond the averages reported here. Some higher-end DDR5 kits are almost 3-5X costlier than what they were selling at last year in Q4, while NAND prices are now surging at a similar rate as memory prices.

Senior Analyst Jeongku Choi emphasized, “For device manufacturers, this is a double whammy – rising component costs and weakened consumer purchasing power will likely slow the demand as the quarter progresses. This calls for OEMs to change procurement patterns or focus on premium models to justify the higher price by delivering more value to consumers.”

Choi further noted, “The memory profitability is expected to reach unprecedented levels. DRAM operating margins have already reached the 60% range in Q4 2025, marking the first time margins for general-purpose DRAM have surpassed those of HBM. The first quarter of 2026 is set to be the period where DRAM margins exceed their historical peaks for the first time. Having said that, this will either set a new normal or a very high bar which looks solid now but could make the next down cycle (if there is one) look uglier.”

via Counterpoint

Although there are reports that memory prices are flattening out, we should remember that several OEMs and industry insiders have already reported memory and NAND prices to continue going up till 2027, with normalization also suggested around 2H 2027 or 1H 2028. It will be a relief if memory and NAND prices stop going up soon, but all previous reports suggest that it will be some time before that happens. In the meantime, Chinese memory solutions are being seen as a savior in these times of crisis, more on that here.

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