---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/38048048.md"
description: "NAND clearly has a 5–6% supply-demand gap and prices are rising. So why aren’t suppliers ramping aggressively?First, adding NAND capacity has a relatively low barrier: unlike DRAM, you don’t need new fabs, as upgrading tools on existing lines and increasing layer counts can lift output. Precisely because it is easy to expand, suppliers are cautious. In past upcycles, disorderly capex led to glut, price crashes, and heavy losses. They now prefer to keep a ‘tight balance’ and release capacity gradually to sustain higher prices and maximize profits.Second, NAND competition is more fragmented than DRAM. Beyond the big three, players like Kioxia and SanDisk matter; if one supplier ramps and others don’t follow, it risks putting itself at a disadvantage. Meanwhile, the big three are prioritizing capex for DRAM and HBM, leaving limited budgets for NAND, which naturally curbs large-scale expansion.So even with a supply-demand gap, suppliers are only expanding moderately. They would rather tolerate some undersupply than risk another round of disorderly growth."
datetime: "2026-01-23T07:29:26.000Z"
locales:
  - [en](https://longbridge.com/en/topics/38048048.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/38048048.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/38048048.md)
author: "[Dolphin Research](https://longbridge.com/en/news/dolphin.md)"
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/topics/38048048.md) | [繁體中文](https://longbridge.com/zh-HK/topics/38048048.md)


# NAND clearly has a 5–6% supply-demand gap and pric…


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## Comments (8)

- **长胜一条龙 · 2026-01-23T12:42:59.000Z · 👍 1**: Because I made a lot in the secondary market! After unloading the goods, I'll increase the production line, and the stock price will immediately crash.
- **P8098 · 2026-01-23T12:14:32.000Z**: 666
- **陈秋 · 2026-01-23T08:48:38.000Z · 👍 3**: International manufacturers controlling production + Yangtze Memory steadily expanding production, it is difficult to fully fill the 5-6% supply-demand gap in the short term, and prices are likely to remain rising or fluctuating at high levels.
  - **陈秋** (2026-01-23T15:53:41.000Z): The decade-long pain caused by the blind expansion of NAND production is still fresh in our minds. Will the three major manufacturers repeat the same mistake? The domestic substitution ramp-up speed c
- **冰封土豆 · 2026-01-23T07:34:32.000Z**: After all, the last blind expansion of production, followed by a sharp drop, was just a few years ago...
- **輸棟樓的韭菜 · 2026-01-23T07:33:09.000Z · 👍 3**: YMTC: Orderly competition? 🥸
  - **不奋东西** (2026-01-23T07:54:27.000Z): Haha. Doesn't exist here with me
  - **Dolphin Research** (2026-01-23T08:43:22.000Z): Hahahahahahahaha