DRAM

• “High-bandwidth memory where high-performance DRAM dies are stacked and connected to logic die with advanced packaging is a key enabler for the AI data center.”
• “The dies used in high-bandwidth memory are more than two times larger than standard DRAM, which means that more than twice the capacity is needed to produce the same volume of chips.”
• “DRAM is a great example of how our inflection-focused innovation approach is working, by focusing on the critically enabling process and packaging steps for next-generation technologies, Applied has significantly increased our share of the DRAM market.”
• “In 2023, we estimate that our DRAM share was more than 10 points higher than it was a decade earlier. And our DRAM revenues were larger than our two closest process equipment peers combined.
• CAP EX
• “There is a reacceleration of capital investment by cloud companies, fab utilization is increasing across all device types and memory inventory levels are normalizing.”
• “We’re forecasting ICAPS demand to be slightly lower than 2023 with weakness in some end markets being offset by strong regional investments.”
• HBM
• “We expect our NAND revenues to be up year-on-year, but NAND to remain less than 10% of total wafer fab equipment spending. And we see continued strength in our DRAM business, driven by customers ramping production of high-bandwidth memory.”
• “High-bandwidth memory, or HBM, made up only about 5% of DRAM output in 2023, but is expected to grow at a 50% compound annual growth rate over the coming years.”
• “In fiscal 2024, we expect our HBM packaging revenues to be four times larger than last year, growing to almost $0.5 billion.”