--- title: "The Antitrust Time Bomb Behind the AI Memory Frenzy: Three Giants Face U.S. Class Action, HBM Transition Accused of Manipulating DRAM Prices" type: "News" locale: "en" url: "https://longbridge.com/en/news/291101956.md" description: "Plaintiffs allege that Samsung Electronics, SK Hynix, and Micron Tech colluded to cut production capacity for traditional DRAM such as DDR3 and DDR4 under the guise of transitioning to HBM, causing prices to surge 700% over four years and directly triggering price hikes for Apple's iPad and Mac. Jefferies predicts that high memory prices will become the new normal, with another 40% to 50% quarter-on-quarter increase in the third quarter, potentially lasting until 2028" datetime: "2026-06-29T06:44:17.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/291101956.md) - [en](https://longbridge.com/en/news/291101956.md) - [zh-HK](https://longbridge.com/zh-HK/news/291101956.md) --- # The Antitrust Time Bomb Behind the AI Memory Frenzy: Three Giants Face U.S. Class Action, HBM Transition Accused of Manipulating DRAM Prices The global surge in memory prices is evolving into a legal storm. Samsung Electronics, SK Hynix, and Micron Tech, the three chip giants controlling the global DRAM market, faced a class action lawsuit in U.S. federal court last week. They are accused of using their strategic transition to artificial intelligence-focused High Bandwidth Memory (HBM) as a pretext to collaboratively compress traditional DRAM production capacity, causing related prices to skyrocket by approximately 700% over the past four years. The lawsuit was filed in the U.S. Federal Court in California on June 25. The plaintiffs represent consumers and businesses that purchased products containing commercial DRAM during the recent cycle of price increases. **The complaint cites Apple's recent comprehensive price hikes for its iPad and Mac product lines as a direct example of damages, viewing it as the immediate trigger for the lawsuit. It accuses the three companies of colluding to reduce production capacity for traditional memory types like DDR3 and DDR4, artificially creating a "RAMpocalypse"\-style supply shortage and price surge.** This case is not without precedent. Samsung Electronics and SK Hynix pleaded guilty to criminal price-fixing charges brought by the U.S. Department of Justice in the 2000s, paying a combined $731 million in fines, with several executives sentenced to prison. The complaint explicitly references this record, attempting to establish a pattern of long-term collusion among the three companies, thereby strengthening the legal basis for the current allegations. For investors, regardless of the lawsuit's outcome, high memory prices are unlikely to reverse in the short term. Jefferies expects that **memory prices in the third quarter of 2026 will rise another 40% to 50% compared to the previous quarter,** with a further quarter-on-quarter increase of 30% to 40% in the fourth quarter. Prices throughout 2027 are projected to grow by 40% to 45% year-on-year, with a significant slowdown unlikely before 2028. This means that cost pressures on downstream enterprises and end consumers will persist for a considerable period. ## Core of the Lawsuit: HBM Transition Alleged as a "Cover" for Supply Compression The core argument of the complaint is that Samsung Electronics, SK Hynix, and Micron Tech, leveraging their oligopolistic position in the global DRAM market, significantly reduced production capacity for commercial memory such as DDR3 and DDR4 under the pretext of this strategic adjustment while collaboratively advancing the transition to HBM, thereby artificially creating a supply contraction. According to data cited in the complaint, these coordinated actions led to a cumulative increase of approximately 700% in commercial DRAM prices over the past four years, causing widespread impact on global consumer electronics and commercial IT procurement. Apple's recent broad price increases for iPads and Macs were cited by the plaintiffs as a typical case of price transmission: **the supply gap created by the three manufacturers upstream has been passed down through the industrial chain layer by layer, ultimately falling on end consumers.** The legal arguments in this lawsuit are not baseless. Samsung Electronics and SK Hynix formally pleaded guilty to criminal price-manipulation cases brought by the U.S. Department of Justice in the 2000s. The two companies paid a combined $731 million in fines, and several involved executives were sentenced to prison. The complaint cites this historical record to present to the court a pattern of systematic and repeated collusion among the three companies, aiming to enhance the credibility and legal validity of the current charges. Compared to defendants facing initial accusations, this prior record provides the plaintiffs with a strong reference point, also imposing higher public opinion and legal costs on the defendants' defense. ## Price Outlook: High Prices as the "New Normal" May Persist Until 2028 Parallel to the legal proceedings is the market's continued pessimistic expectation regarding memory price trends. Several companies, including Lenovo, have publicly stated that high memory prices will become the "new normal." Analysts also point out that behind such statements lie commercial motives to guide consumers to place orders early and avoid waiting. Jefferies' forecast is more specific: the firm expects memory prices in the third quarter of 2026 to rise another 40% to 50% compared to the previous quarter, with a further quarter-on-quarter increase of 30% to 40% in the fourth quarter. Entering 2027, annual prices are expected to increase by another 40% to 45% year-on-year, with a substantial slowdown in prices unlikely before 2028. For downstream enterprises and end consumers, the continuous rise in memory costs will continue to transmit to final product pricing over a long cycle, putting sustained pressure on the cost structures of consumer electronics, servers, and enterprise IT procurement. ### Related Stocks - [AAPL.US](https://longbridge.com/en/quote/AAPL.US.md) - [SMSN.UK](https://longbridge.com/en/quote/SMSN.UK.md) - [SSNGY.US](https://longbridge.com/en/quote/SSNGY.US.md) - [MU.US](https://longbridge.com/en/quote/MU.US.md) - [07709.HK](https://longbridge.com/en/quote/07709.HK.md) - [MUU.US](https://longbridge.com/en/quote/MUU.US.md) - [09347.HK](https://longbridge.com/en/quote/09347.HK.md) - [07747.HK](https://longbridge.com/en/quote/07747.HK.md) - [AAPB.US](https://longbridge.com/en/quote/AAPB.US.md) - [AAPD.US](https://longbridge.com/en/quote/AAPD.US.md) - [AAPU.US](https://longbridge.com/en/quote/AAPU.US.md) - [AAPW.US](https://longbridge.com/en/quote/AAPW.US.md) - [APLY.US](https://longbridge.com/en/quote/APLY.US.md) - [AAPX.US](https://longbridge.com/en/quote/AAPX.US.md) - [AAPY.US](https://longbridge.com/en/quote/AAPY.US.md) - [MAGX.US](https://longbridge.com/en/quote/MAGX.US.md) - [07347.HK](https://longbridge.com/en/quote/07347.HK.md) - [09747.HK](https://longbridge.com/en/quote/09747.HK.md) - [MUD.US](https://longbridge.com/en/quote/MUD.US.md) - [MULL.US](https://longbridge.com/en/quote/MULL.US.md) - [MUYY.US](https://longbridge.com/en/quote/MUYY.US.md) - [MUZ.US](https://longbridge.com/en/quote/MUZ.US.md) - [JEF.US](https://longbridge.com/en/quote/JEF.US.md) - [00992.HK](https://longbridge.com/en/quote/00992.HK.md) - [80992.HK](https://longbridge.com/en/quote/80992.HK.md) - [LNVGY.US](https://longbridge.com/en/quote/LNVGY.US.md) ## Related News & Research - [Micron posts record revenue on AI surge as China’s memory rivals gain ground](https://longbridge.com/en/news/290795768.md) - [Micron signs multi-year memory, storage supply deal with Anthropic](https://longbridge.com/en/news/290440002.md) - [It's official: your Mac and iPad just got more expensive](https://longbridge.com/en/news/290839340.md) - [Micron's AI Memory Boom Faces Key Test](https://longbridge.com/en/news/290600725.md) - [Micron Just Gave AI Investors Exactly What They Wanted](https://longbridge.com/en/news/290810163.md)