[SemiAnalysis Analyst: CXMT's HBM Technology is 3-4 Years Behind Leading Companies] BlockBeats News, July 14 – SemiAnalysis analyst Ray Wang stated in an interview with CNBC yesterday that the demand for HBM in 2026 will be extremely strong, to the extent that Samsung and SK Hynix are continuously shifting wafer capacity toward HBM production while reducing investment in standard DRAM, even though standard DRAM currently offers higher profit margins. Ray Wang believes that in the context of an undersupplied HBM market, both Korean manufacturers will convert all HBM production into profits, meaning Samsung gaining HBM market share does not necessarily come at the expense of SK Hynix's interests. The limiting factor is wafer production capacity, not market demand. Speaking about the soon-to-be-listed ChangXin Memory Technologies (CXMT), Ray Wang noted that the company has already captured approximately 10% of the DRAM market share (in terms of bits), which is solid in a rapidly growing market. However, the company is about three years behind in process technology and three to four years behind in HBM technology. Ray Wang predicts that most of the additional supply will arrive in the second half of 2027, with more supply coming in 2028. However, he still believes that supply in 2028 will remain insufficient, only slightly alleviating the shortage compared to 2027. [Original Link]