Goldman Sachs' heavyweight report: The most severe shortage of memory chips in fifteen years is approaching, and even a collapse in consumer demand cannot stop it

The most severe shortage of storage chips in history is coming! Goldman Sachs warns that there will be the largest gap in 15 years for DRAM in 2026, and NAND shortages are at record levels. The explosive demand for AI servers accounts for more than half of DRAM supply. Analysts warn that even in extreme scenarios where demand for smartphones and PCs declines significantly, strong server demand can still absorb the shock and maintain market tension. Surprisingly, while Goldman Sachs released this bullish report on the memory industry, it downgraded Micron's rating to neutral, with a target price of $235, citing that "most of the positives have already been priced in."