The King of Storage Returns? Morgan Stanley: Samsung's HBM business has fully surpassed competitors, with profits expected to surge by 150% in 2026

Morgan Stanley believes that Samsung has achieved comprehensive catch-up in the high bandwidth memory (HBM) field, with HBM4 products undergoing multiple qualification certification tests, and the first results are expected to be announced in early December. The company currently has an effective production capacity of 500,000 DRAM chips, far exceeding its competitors. The company is expected to regain dominance in the storage market, with profits in 2026 projected to surge over 150% compared to 2025. The market is unprepared for Samsung's specific positive developments, and the transition from relative profit corrections to a technological leadership position (HBM4) could serve as a catalyst for stock price