AI computing power soaring ignites storage bull market, Bank of America predicts the cycle will continue until the first half of 2027.

Recently, Wall Street financial giant Bank of America released a research report titled "Global Storage Super Cycle Swallows the Globe", undoubtedly strengthening one of the most powerful trading logics that has been dominating the global stock market recently - "Global storage series products entering an unprecedented super cycle". Looking at the approximately $1.4 trillion AI computing power infrastructure agreements already signed by OpenAI and the progress of "Stargate" AI infrastructure projects, these super AI infrastructure projects urgently require enterprise-level high-performance storage capable of handling massive amounts of data (with HBM storage systems, enterprise SSD/HDD, DDR5 at the server level, etc. core storage products) driving growth in demand, prices, and the soaring stock prices of storage giants. This year, not only have the stock prices of the three global storage chip leaders SK Hynix, Samsung Electronics, and Micron Technology risen by more than three digit percentages, but the stock price increases of enterprise-level data storage product giants have been even stronger - for example, the stock prices of Seagate, SanDisk, and Western Digital have all risen by more than 200% this year, with SanDisk, the leader in enterprise SSD storage systems, seeing an astonishing increase of 500%. These storage chip and product line giants have indeed outperformed the US stock market and even the global stock market. Senior analysts at Bank of America believe that recent channel surveys of storage chip leaders such as SK Hynix and Samsung show that SK Hynix continues to establish a leading advantage in HBM4/4e and current HBM3e, becoming the preferred supplier for large AI computing customers such as Nvidia, Google, and OpenAI. Bank of America expects traditional DRAM demand, including DDR4 and DDR5, to continue to significantly exceed supply in 2026, with prices and profits still having considerable upside potential (for example, Bank of America expects certain DRAM contract prices to have risen by over 100% this year, with another 50%+ upside in the next six months), and the optimistic sentiment for enterprise-level SSD-led NAND, as well as the continued marginally rising contract pricing for enterprise-level HDDs. Bank of America predicts that this storage super cycle will at least continue until early 2027, and based on this unprecedented level of prosperity in the cycles of HBM3e/HBM4/4e, DRAM, and NAND series high-performance storage products, Bank of America is significantly bullish on the two leading players, SK Hynix and Samsung, indicating the stock prices of these two major storage chip giants could rise by at least 50% and 40%, respectively. Bank of America also believes that the global storage sector is continuing to enter a "valuation reassessment" bull market phase closely related to the super cycle. When physical storage in data centers cannot meet the "AI faith" of enterprises and consumers, the storage "super cycle" has already begun.