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Monday, February 9, 2009

Memory prices jump again

DRAM contract up ~6% for the first half of February.  More significantly, NAND contract prices rose over 10%.  Spot prices, which tend to lead contract prices, are elevated for both relative to contract.  NAND spot is a good 40% higher than contract, suggesting more upside is likely near-term.

There is probably a long trade in Sandisk on the back of the NAND strength.

I’m less enthusiastic about DRAM as demand is poor and the Taiwanese government is still intent on propping up the industry.

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