Morningstar analyst Phelix Lee said leading memory-chip manufacturers may further increase capital expenditure in 2026 and 2027, driven by newly negotiated long-term supply agreements that support margin stability and shift greater funding commitment

2026-06-23

Morningstar analyst Phelix Lee said leading memory-chip manufacturers may further increase capital expenditure in 2026 and 2027, driven by newly negotiated long-term supply agreements that support margin stability and shift greater funding commitments onto customers. Morningstar said this could lead to strong capacity expansion in memory, particularly in DRAM and HBM.