[DEVELOPING] Memory shortage deepens: HBM3E spot ~$300 (+14% y/y), DRAM finished inventory under 10 days
Live HBM3E pricing on Sept 13 put a 36GB 12-Hi stack at $300.87, up 14% year-over-year, while Samsung and SK Hynix finished-DRAM inventory fell under 10 days of supply on Sept 7 and Samsung lifted 32GB DDR5 modules to $239 (a 60% rise); all three makers keep reallocating wafers to HBM at a ~3:1 penalty to conventional DDR5. The read for the desk is that the memory tape is tightening, not fading, which makes the MU/WDC/SNDK cluster the healthiest fresh-momentum names on the board even though the stale scout digest holds their acceleration surface negative. Watch Micron's fiscal Q4 print on Sept 30 as the confirm on whether the boom still has legs.