The NAND industry went into a severe shortage (as NAND goes) along with DRAM. However, NAND shortage happened due to 2D to 3D. While 3D allows for high cell d

The NAND industry went into a severe shortage (as NAND goes) along with DRAM. However, NAND shortage happened due to 2D to 3D. While 3D allows for high cell density, it also made Capex go from about 8B to around 25B as an industry. One of the reason Lam stock price has been on a tear. NAND spot pricing went up somewhere between 200-300% for like on like technology. Margins exploded, and the industry grew larger than any forecasts. There is a big debate on if the margins will stay high. While DRAM is still edging up, we may have seen some lowering of NAND pricing. So cost reduction is coming from mixing to MLC and TLC with better architectures in the same package.