Due to the poor DRAM market conditions, various research institutions have recently lowered the operating estimates of related manufacturers, and none of the three DRAM giants, Samsung, Hynix and Micron, have been spared. Among them, U.S. investment bank Piper Jaffray announced this month that it lowered Micron Technology’s profit and revenue forecasts for 2019 and 2020, and said that the industry trend may be worse.

According to Bloomberg data, nearly 70% of Micron's revenue comes from DRAM memory chips. Piper Jaffray analyst Harsh Kumar believes that the selling prices of Micron's main products, DRAM and NAND chips, are falling significantly, and the current supply is greater than market demand.

Coincidentally, Mizuho Securities also stated that concerns about the pricing of memory chips have put Micron at the top of the "2019 Investment Stay Away List" list. Prior to this, CLEVELAND Research Company lowered its revenue forecast for Micron this year on the grounds of falling DRAM prices. SUSQUEHANNA Financial Group also said that DRAM and NAND chip prices were lower than previously expected, while Hana Financial Investment Company also predicted that DRAM prices in the first quarter would be higher than before. It fell 30% in the first quarter.

In addition to Micron, two other DRAM giants, Samsung Electronics and SK Hynix, are also undervalued. Mirae Asset, a South Korean financial group, pointed out that Samsung Electronics' first-quarter profit is expected to be 8.15 trillion won, a decrease of 48% from the same period last year, and also mentioned that falling semiconductor prices and delayed recovery demand , revenue estimates for the semiconductor division may be revised down again.

The analysis also pointed out that the blow to SK Hynix will be even greater. Unlike Samsung Electronics, which has multiple businesses such as mobile phones and home appliances, SK hynix specializes in the semiconductor business. Mirae Asset Daewoo predicts that SK hynix's revenue in the first quarter of this year is estimated to be 1 trillion and 30 million won, a decrease of 70% from the same period last year.