Morgan Stanley Upgrades Winbond, Nanya Tech on Prospects for Memory Supercycle

Morgan Stanley said global memory-chip manufacturers are shifting capacity toward high-end products such as high-bandwidth memory, tightening supplies of DDR4 and SLC NAND. Meanwhile, data center expansion is lifting demand for servers and enterprise SSDs, or eSSDs. The widening supply-demand gap will be crucial in determining whether Winbond Electronics and Nanya Technology see both pricing and earnings enter an upcycle.

Morgan Stanley upgraded its investment ratings on Winbond and Nanya Technology in its latest report, forecasting that higher DDR4 and SLC NAND prices could fuel explosive earnings growth at both companies. It said the conventional memory market could be headed for a “supercycle.” However, the available event information does not specify the report’s publication date, the new ratings, target prices or monetary figures. Those details await confirmation from the firm’s official materials.