CITIC Securities: Continue to be optimistic about storage demand exceeding expectations, expecting industry supply shortages to persist until the first half of 2027.

A CITIC Securities research report noted that since February, Kioxia’s performance and guidance have exceeded expectations, NAND contract prices have been raised in the first quarter, and domestic module manufacturer, BIWEI Memory, released performance announcements for its January–February results that also exceeded expectations, further validating that the storage industry’s business conditions remain at a high level. CITIC Securities continues to be optimistic about storage demand exceeding expectations, and expects that industry supply-demand tightness will continue through 27H1. It recommends, as core picks, storage module companies with strong near-term performance upside, storage manufacturers, and design companies closely aligned with original-equipment manufacturers. (China Economic News Service / Cailian Press)