Bank of America said in a July 11 research note that the global memory market is still in an ASP-led supercycle. The bank expects global DRAM revenue to rise 325% year over year in 2026 to $568.8 billion, while NAND revenue is projected to increase 299% to $323.1 billion. Combined DRAM and NAND revenue is forecast to reach $891.8 billion, up 315% from 2025. BofA said the current expansion is being driven mainly by a rebound in pricing rather than shipment growth alone. The note also projects average selling prices in 2026 to climb 249% for DRAM and 238% for NAND. By 2027, the bank said combined revenue from the two product categories could rise further to $1.25 trillion.
BofA forecasts sharp revenue growth for memory chips
According to BlockBeats, Bank of America said in a July 11 research note that the global memory industry remains in an ASP-driven supercycle.
The bank expects global DRAM revenue to increase 325% year over year in 2026 to $568.8 billion. NAND revenue is projected to rise 299% over the same period to $323.1 billion. Combined revenue from DRAM and NAND is forecast at $891.8 billion, up 315% from 2025.
Pricing rebound seen as the main driver
Bank of America said combined revenue from the two categories could climb further to $1.25 trillion by 2027. The bank said the current growth phase is being driven mainly by a rebound in prices, not just higher shipments.
The note also projects DRAM average selling prices to rise 249% year over year in 2026, with NAND average selling prices up 238%.
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