CITIC Securities: Continue to be optimistic about storage demand exceeding expectations, expecting industry supply shortage to persist until the end of 2027

MetaMuskRat · 2026-03-23T05:56:53+00:00

CITIC Securities research report indicates that AI demand is driving the storage industry to remain in a super-cycle of prosperity, with a supply-demand imbalance expected to continue until 2027. Along with Kioxia's performance surpassing expectations and contract prices being increased, the industry’s prosperity remains high. The core recommendations are storage module and design companies.

MetaMuskRat

2026-03-23 05:56:53

Abstract generation in progress

CITIC Securities Research Report on March 23rd states that driven by AI demand, CITIC Securities believes that storage is still in the early to mid-stage of a super cycle, and the supply and demand imbalance will last at least until 2027. Since February, the performance and guidance of Kioxia exceeded expectations, NAND contract prices for the first quarter increased, and leading domestic module manufacturers released performance announcements for January to February that also exceeded expectations, further confirming that the storage industry remains at a high level of prosperity. CITIC Securities continues to be optimistic about storage demand exceeding expectations, predicting that the supply and demand imbalance will persist until the end of 2027. The core recommendations are: 1) Storage module companies: strong short-term performance growth potential; 2) Storage design companies: ongoing recommendation for original storage manufacturers and design companies close to OEMs.

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