**Memory Stocks Dance Collectively, Nanya Tech Leads Breakthroughs, How Can Micron-Related Stocks Capture This Wave?**

The bullish pattern in the Taiwan stock market continues to intensify, with memory sector becoming the market focus. Among them, Nanya Tech (2408) performed most impressively—its stock price surged amid buying frenzy, closing at the daily limit of 228.5 NT dollars, up 9.86% for the day, hitting a 52-week high. The massive trading volume of over 150,000 shares further reveals the true intent of capital: a structural shift has already taken shape.

**Profit Surge as the Trigger, DRAM Shortage as the Catalyst**

Nanya Tech’s ability to attract massive funds primarily stems from its soaring earnings. According to self-consolidated data, its net profit for November 2025 reached NT$4.235 billion, more than doubling month-on-month, and an astonishing over 20-fold increase year-on-year. In other words, the company has turned losses into profits in the first 11 months, with a steep recovery curve truly astonishing. Its single-month EPS of NT$1.37 also indicates promising future operational guidance.

A dramatic change on the supply side is another driving force. To compete for AI computing power, the three major global memory manufacturers are shifting capacity toward high-margin HBM, leading to a shortage of standard DRAM. Market forecasts suggest that the contract prices for general-type DRAM in Q1 2026 could see seasonal increases of 55% to 60%. As a leading Taiwanese standard memory manufacturer, Nanya Tech directly benefits from this price hike wave.

**Micron Concept Stocks Show Collective Response, Industry Chain Fully Bullish**

Nanya Tech’s strength is not a fleeting phenomenon but has triggered a chain reaction. Walsin (2344), benefiting from DDR4 order transfers, rose 8.9% today and moved to a high position. Memory module leader Apacer (3260) fluctuated at high levels due to profit effects from large low-cost inventories. Even its parent company Nanya (1303) also benefits from the popularity of its subsidiary, with the “mother’s prestige boosts the daughter” effect pushing the stock higher. This wave of market movement has evolved from a single company story into a collective empowerment of the entire Micron-related industry chain—capital inflows are spreading widely.

**January 19th Earnings Conference as a Turning Point, Three Major Risks to Watch**

According to the announced schedule, Nanya Tech will hold an earnings briefing on January 19th. Given the strong profit performance, analysts generally expect management to release a relatively optimistic outlook, which is also why funds are preemptively positioning. However, investors need to be aware of several hidden risks:

First, although DRAM contract prices are expected to rise 55% to 60% seasonally, the sustainability of these high levels depends on the pace of end-market demand digestion, which involves uncertainties; second, delays in new factory construction progress mean short-term growth momentum still heavily relies on the yield breakthroughs of existing 1B nm processes; third, the stock price has already surged significantly in the short term, with technical indicators entering overbought territory, and profit-taking pressure could trigger a technical correction at any time—this is a key short-term risk to watch.

Overall, under the dual background of improving industry fundamentals and large institutional capital returning, the medium- to long-term logic for Nanya Tech and its related Micron concept stocks remains valid. The key is to closely monitor the management guidance and the actual progress of DRAM contract prices after the January 19th earnings briefing, as important references for subsequent trading decisions.