DRAM is the working memory of computers, phones and servers. A processor keeps the data it is using right now in DRAM because it can be read and written far faster than from storage. It is volatile, which means that its contents are lost when the power goes off. It comes in several forms, including DDR for PCs and servers, LPDDR for phones and HBM for AI accelerators.
Memory is a cyclical business. Chipmakers sell products that buyers treat as interchangeable, so prices swing sharply with supply and demand, and makers can go from heavy losses to record profits within a few years. The question for any DRAM maker is which part of the cycle it is in and what share of its output goes to premium products.
At SK hynix, DRAM made up 75% of third-quarter 2026 revenue, with NAND at 24%, according to Investing.com. Its DRAM average selling price rose in the high-20% range from the previous quarter, and bit shipments grew about 10%. Management said that supply cannot keep up with demand and expects the constraint to continue through 2030, and that its DRAM and HBM output is effectively sold out through 2029.
Track both price and bit shipments, since revenue can rise on either, and note which kind of DRAM a figure refers to.