[Goldman Sachs: DRAM prices may continue to rise until the first half of 2028, and HBM market revenue is expected to increase by more than 230% next year] On October 28, Goldman Sachs’ latest research report pointed out that the DRAM and high-bandwidth memory (HBM) market prospects in 2027 remain strong. TrendForce predicts that server demand growth and limited supply expansion will drive DRAM prices to continue to rise until the first half of 2028. Even if consumer electronics demand is weak, the market will remain tight in supply and demand. Long-term supply agreement (LTA) coverage may reach 60% to 70%. In terms of HBM, the comprehensive average selling price is expected to increase by 122% year-on-year to US$3.7 per Gb in 2027, driving global HBM market revenue to increase by more than 230% year-on-year, exceeding US$200 billion. Goldman Sachs reiterated its "buy" rating for Samsung Electronics and SK Hynix, with 12-month target prices of 500,000 won and 3.5 million won respectively, while maintaining a target price of 380,000 won for Samsung Electronics preferred shares.