TrendForce Lifts 2027 HBM Price Outlook, Sees Blended ASP Up 121%

The revision matters less for the headline number than for what it says about memory's shifting role in AI economics: HBM is no longer just a component cost, it is a capacity claim on the same advanced-node and wafer supply that conventional DRAM needs. That squeeze is the mechanism behind the forecast, and it lands on anyone building AI servers or buying DRAM downstream. The open question is whether yield and output improvements arrive fast enough to loosen the constraint, or whether the HBM4 and HBM4e ramp keeps the tightness in place through 2027.