CITIC Securities: Continue to be optimistic about storage demand exceeding expectations, expecting industry supply shortage to persist until the end of 2027

K-LinePoet · 2026-03-23T01:44:27+00:00

CITIC Securities research report indicates that, driven by AI demand, the storage industry is still in a high-growth period, and the supply-demand gap is expected to persist until the end of 2027. They are optimistic about investment opportunities in storage module and design companies, believing that their short-term performance will be strong.

K-LinePoet

2026-03-23 01:44:27

Abstract generation in progress

CITIC Securities Research Report states that driven by AI demand, CITIC Securities believes that storage is still in the early to mid-stage of a super cycle, and the supply and demand imbalance will last at least until 2027. Since February, the industry has been further validated by Kioxia’s better-than-expected performance and guidance, NAND contract prices rising in the first quarter, and leading domestic module manufacturers releasing performance announcements for January to February that exceeded expectations, maintaining high industry prosperity. CITIC Securities continues to be optimistic about storage demand exceeding expectations, expecting the supply and demand imbalance to persist until the end of 2027. Key recommendations: 1) Storage module companies: strong short-term performance growth potential; 2) Storage design companies: ongoing recommendation for original storage manufacturers and design companies close to OEMs.

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