[Morningstar: Leading memory chip makers' capital expenditure may further increase in 2026 and 2027]

Published: Jun 23, 2026 13:27

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Morningstar analyst Phelix Lee noted in a report that capital expenditure by leading memory chip makers may further increase this year and next. This growth is largely driven by newly negotiated long-term supply agreements with clients, which Morningstar believes contain terms conducive to sustaining stable profit margins and imply that clients have assumed higher financial commitments. As a result, memory chip capacity growth could be very robust, especially in the DRAM and HBM segments.

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