Wells says Samsung comment on HBM3E could be viewed as negative for Micron

Wells Fargo thinks Samsung’s (SSNLF) overall comments on DRAM and NAND industry dynamics were “net-positive,” but adds that comments at the end of the company’s call on HBM3E supply being greater than demand and pricing into the second half of 2025 will be a “key focus” and may be read as negative for Micron (MU). Samsung is quoted by the firm as having stated: “HBM3E supply has grown faster vs. demand, so we anticipate supply dynamics to change which will likely impact market prices… we believe the difference in margins between HBM3E and conventional DRAM is expected to narrow sharply.”