What are the top stocks in the DRAM / HBM Memory bubble?

QuantAbundancia maps 6 primary stocks to the DRAM / HBM Memory bubble: MU, HXSCY, RMBS, SNDK, MRAM, WDC.

What ETFs carry the DRAM / HBM Memory thesis?

4 ETFs on QuantAbundancia carry the DRAM / HBM Memory thesis: DRAM (primary), SMH (primary), AIS, SOXX.

How correlated are DRAM / HBM Memory stocks?

The DRAM / HBM Memory bubble's primary members co-move with a 252-day average correlation of 0.57 across 6 pairs — decent co-movement.

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DRAM / HBM Memory

DRAM, HBM, memory IP, advanced packaging, and storage — the memory bottleneck of AI compute scaling. The Samsung+SK Hynix+Micron trio is forecast to print ~$454B in FY26 operating income (Samsung +413% / SK Hynix +593% / Micron +684%) on HBM allocation tightness through 2026.

0.568avg corr (252d)

0.41 / 0.79min / max

6pairs

6primary stocks

4etfs

Decent co-movement

Stocks

MUMicron Technology, Inc.
Only US-listed pure-play DRAM/NAND/HBM producer.
$715.80
$341fib+110%
HXSCYSK Hynix Inc. (sponsored ADR)
SK Hynix sponsored ADR ??? #2 DRAM globally, HBM3e leadership.
—
RMBSRambus Inc.
Memory IP licensing — DDR, HBM, GDDR royalties. Pure-play exposure to memory volume.
$126.09
SNDKSanDisk Corporation
Pure-play NAND flash post-WDC spinoff. Q3 2026 blowout (EPS $23.41 vs $14.50 cons); riding the AI memory cycle with the cleanest US-listed NAND exposure.
$1381.00
MRAMEverspin Technologies, Inc.
Everspin Technologies ??? emerging non-volatile memory tech.
$37.00
WDCWestern Digital Corporation
NAND / storage — adjacent to DRAM cycle but distinct dynamics.
$475.87
Adjacent (secondary)
AMKRAmkor Technology, Inc.
HBM advanced packaging (CoWoS / 2.5D stacking) — bottleneck of memory-on-package supply.
$70.22
$55fib+28%
LRCXLam Research Corporation
Etch + HBM tooling — also primary in Semi Equipment but heavy memory-fab exposure.
$282.97
SSNLFSamsung Electronics Co., Ltd. (OTC ADR)
#1 global DRAM producer (Samsung). Conglomerate exposure dilutes the pure memory thesis (~30% of consolidated revenue) — listed for narrative completeness; pure-play exposure is cleaner via $DRAM ETF or the MU/HXSCL primaries.
—
402340.KSSK Square Co., Ltd.
SK Square — holdco-discount play on SK Hynix (owns 20% of SK Hynix as core asset, trades at ~43% NAV discount). Cleanest holdco wrapper for HBM exposure; KRX-direct so requires IBKR Korea cash-equity access.
—
STXSeagate Technology Holdings plc
HDD / storage — datacenter capacity adjunct to memory.
$787.68
KIOXYKioxia Holdings Corporation (OTC ADR)
Pure-play NAND (Kioxia). Thin OTC ADR liquidity — secondary tier despite the clean exposure. Held in $DRAM ETF (~5% weight).
—
SIMOSilicon Motion Technology Corp.
SSD controllers — exposure to NAND volume cycle.
$257.00
APLDApplied Digital Corporation
Classifier 2026-05-07: extended tier, corr 0.46 to memory centroid (29 obs, 2nd: datacenter-power 0.421). is_primary_bubble=FALSE.
$42.40
CIFRCipher Mining Inc.
Classifier 2026-05-07: extended tier, corr 0.48 to memory centroid (29 obs, 2nd: datacenter-power 0.341). is_primary_bubble=FALSE.
$20.14
$17fib+18%

Correlation matrix (252d)

	MU	RMBS	HXSCY	MRAM	SNDK	WDC
MU	·	0.50	—	—	0.79	0.64
RMBS	0.50	·	—	—	0.41	0.46
HXSCY	—	—	·	—	—	—
MRAM	—	—	—	·	—	—
SNDK	0.79	0.41	—	—	·	0.61
WDC	0.64	0.46	—	—	0.61	·

Ticker order reflects hierarchical clustering assignment. Tighter green blocks on the diagonal = stronger sub-clusters within the bubble.

ETFs carrying the thesis

DRAMPrimary
Themes Memory Semi ETF
Themes ETFs
—
SMHPrimary
VanEck Semiconductor ETF
VanEck
—
AIS
VistaShares Artificial Intelligence Supercycle ETF
VistaShares
—
SOXX
iShares Semiconductor ETF
BlackRock
—

Sub-clusters

HXSCL
MU
RMBS

Frequently asked questions

What are the top stocks in the DRAM / HBM Memory bubble?: QuantAbundancia maps 6 primary stocks to the DRAM / HBM Memory bubble: MU, HXSCY, RMBS, SNDK, MRAM, WDC.
What ETFs carry the DRAM / HBM Memory thesis?: 4 ETFs on QuantAbundancia carry the DRAM / HBM Memory thesis: DRAM (primary), SMH (primary), AIS, SOXX.
How correlated are DRAM / HBM Memory stocks?: The DRAM / HBM Memory bubble's primary members co-move with a 252-day average correlation of 0.57 across 6 pairs — decent co-movement.