[Semiconductor Supply Chain] From P to Q—The Time for CapEx: As Utilization Rises, Materi…

✅ [Semiconductor Supply Chain] From P to Q—The Time for CapEx: As Utilization Rises, Materials and Components Take Off 📋 Growth Research Semiconductor Materials, Components & Equipment Industry Report Part 1. After the Memory Pricing Upcycle, Materials and Components Are Next Part 2. New Capacity Investments Are Already Underway Part 3. Investment Strategy: Focus on Semiconductor Materials and Components Benefiting from NAND Technology Migration 📈 Samyang ENCHEM (482630) | 📈 TCK (064760) 📌 Shift from Pricing (P) to Volume (Q) DRAM prices rose 93–98% QoQ in 1Q26 and are expected to gain another 58–63% in 2Q26. Memory makers are shifting toward higher output and CapEx to maximize profits. 📌 NAND: Migration Over Expansion Samsung Electronics is migrating its Xi’an plant to V8 and V9 NAND. SK hynix and Solidigm are advancing 192-layer NAND migration and equipment efficiency in Dalian. Kioxia is expanding Yokkaichi and preparing 332-layer NAND production at Kitakami, while Micron is building a new Singapore fab. 📌 Materials and Components Strategy Suppliers benefit from recurring demand as utilization rises and processes migrate. With NAND upgrades already underway, related earnings should improve relatively quickly. 📌 Key Beneficiaries Samyang ENCHEM: Expected to expand its supply of polymers and PAGs used in thick KrF photoresists, which are essential for higher-layer NAND production TCK: Expected to benefit from increased wear and replacement demand for SiC focus rings as NAND layer counts rise and multi-stack processes expand ✅ Korean Independent Research: Growth Research https://t.me/growthresearch