DRAM prices are still climbing in Q3, at roughly a third of the Q1 pace

DRAM is the working memory inside PCs, phones, and servers, the kind you don't notice until you try to upgrade. TrendForce now expects contract prices for that memory to climb 13–18% in the third quarter of 2026, down sharply from the 55–60% it forecast for the first quarter, per the firm's July 3 release.

TrendForce still calls the DRAM market "extremely tight", with AI server demand driving the squeeze even as the price-growth rate slows. NAND flash, the storage memory in phones and SSDs, is forecast to rise 10–15% over the same window.

Two forces are pulling the rate down without loosening the market: a punishing comparison base from Q1's 55–60% jump, and record contract prices pushing consumer buyers past the point where higher costs can be passed through, so PC, smartphone, and gaming volumes are softening.

Long-term agreements between chipmakers and their largest customers were already acting as a ceiling on the 13–18% range. The Register reports SK hynix removed the price cap from its memory LTAs in early July, diverging from Micron, a move that could push realized prices above the forecast band if AI server buyers keep chasing supply.

Q4 procurement is being locked in now.