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Micron Technology (NASDAQ:MU) was down 4% during Thursday market action after its South Korean competitor, SK Hynix (OTCPK:HXSCF), was downgraded to Neutral from Buy by Goldman Sachs.
Goldman Sachs analysts, led by Giuni Lee, indicated that high-bandwidth memory pricing is expected to decline in 2026 as competition in the space increases. SK Hynix stands as a major supplier of HBM to Nvidia (NVDA).
“HBM pricing could decline for the first time in 2026, with increasing competition and pricing power gradually shifting to the major customer where Hynix has an outsized exposure,” Lee said, in an investor note.
Samsung (OTCPK:SSNLF) is another major producer of HBM.
However, other competitors in the memory space, such as Western Digital (NASDAQ:WDC) and Seagate Technology (NASDAQ:STX), both inched up about 1%.
More on Micron Technology and SK hynix Inc.
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