Earlier quoted context omitted.
I'd take the opposite bet on this. They're diverting wafer capacity from lower-profit items to things like HBM, but all indications are that wafer starts are up a bit. Just not up enough. For example: https://chipsandwafers.substack.com/p/mainstream-recovery "Sequentially, DRAM revenue increased 15% with bit shipments increasing over 20% and prices decreasing in the low single-digit percentage range, primarily due to…
So it’s also the perfect time to constrain the product flow to jack up the prices. They’ve been acting like a cartel for a long time now and somehow they never match the demand even after 18 months straight price increases. They already have the fab, the procedures, and everything, so stop acting like they’re setting up a brand new fab just to increase throughput.
Demand right now is so high that they'd make more net profit if they could make more dram. They could still be charging insane prices. They're literally shutting down consumer sales - that's completely lost profit.