Ehrmantraut Capital(@EhrmantrautCap_):Interesting chart. Right now, $NVDA dominates HBM demand, but $AVGO is expected to have a huge upwards surge in the coming years. Just like Meritz Securities, Citi is expecting Broadcom $AVGO to demand (slightly) more HBM bits than Nvidia $NVDA by 2028. Furthermore, while overall DRAM demand is growing each year, HBM is expected to outpace overall DRAM growth and become a bigger share of DRAM demand over time, to over 20% in 2028. Very bullish for SK hynix, Samsung and Micron. $SKHY $005930.KS $MU $DRAM

2026.09.19 15:05

Interesting chart. Right now, $NVDA dominates HBM demand, but $AVGO is expected to have a huge upwards surge in the coming years. Just like Meritz Securities, Citi is expecting Broadcom $AVGO to demand (slightly) more HBM bits than Nvidia $NVDA by 2028. Furthermore, while overall DRAM demand is growing each year, HBM is expected to outpace overall DRAM growth and become a bigger share of DRAM demand over time, to over 20% in 2028. Very bullish for SK hynix, Samsung and Micron. $SKHY $005930.KS $MU $DRAM

P Equity Research 📰@pequityresearch

2026.09.19 14:03

Citi: HBM Demand Outlook > Massive Market Growth: Total HBM demand is projected to surge exponentially, jumping from just 736 (1Gb eq.) in 2021 to a staggering 126,990 by 2028. > Nvidia Dominates Demand: Nvidia remains the primary driver of HBM consumption, expected to account for 40,939 out of the 126,990 total demand by 2028 (roughly 32%), down from ~40% in 2025. > Strong Cloud & Tech Player Adoption: Broadcom, Google, AMD, and AWS show sharp upward trajectories, with Broadcom experiencing massive scaling to reach 41,003 by 2028. > Rapid Technological Transitions: HBM4 12hi and HBM4e scaling heavily through 2027 and 2028. $MU $DRAM $SKHY $DISK $EWY