Goldman Sachs analyst: Apple's memory purchases won't crush its profit margin, 2.4 EB LPDDR5 shipments for iPhone in 2026

Goldman Sachs analyst Michael Ng broke Wall Street’s panic expectations, stating that Apple’s large-scale procurement of DRAM memory will not crush its profit margin. He reiterated a “Buy” rating and maintained the target price of $330 (English Edition note: the current exchange rate is approximately 2,254 RMB).

The analyst believes that market concerns about the impact of Apple’s large-scale purchase of dynamic random access memory (DRAM) on profit margins are greatly exaggerated. Although supply chain news indicates that Apple is aggressively acquiring mobile memory to squeeze competitors, Goldman Sachs firmly believes Apple can effectively neutralize the cost pressures.

The analyst estimates that for the iPhone product line alone, Apple will ship 2.4 EB (about 2,576,980,377.6 GB) of LPDDR5 memory in 2026. As previously reported by the English Edition, amid the general rise in global smartphone prices, Apple’s iPhone 18 Pro series is expected to maintain current sales prices, which will attract more users to purchase.

Goldman Sachs continues to reiterate its “Buy” rating on Apple stock, firmly maintaining the target price of $330. The analyst points out that Apple’s profit defense remains solid, and iPhone and Mac revenues will continue to outperform the market, serving as a robust foundation for performance growth.