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NOR flash “Severe Supply Shortage” with high density continued increases of 90-110% for H2. I wonder who sells both high density NOR and SLC NAND? *cough cough, $ESMT* For H1 hikes: NOR: +100–120% SLC NAND: +130–150% For H2 hikes: High-density NOR: 90-110% in H2 SLC NAND: ~70–75%. Obviously there’s others from Winbond / Macronix / Gigadevice, but my idea and position with ESMT is that it’s the largest beneficiary of the shortage relative to size. (they sell NOR: >256Mb) The moderate bearish part is: “For mid- and low-capacity products of 128Mb and below, additional capacity from Chinese suppliers is gradually coming online. Price increases for consumer-grade products are therefore expected to moderate” However, this update is overwhelmingly bullish for earnings of legacy memory players. Let the ASP hike games continue.