Bank of America forecasts that, due to the sharp rise in DRAM prices, smartphone shipments in 2026 will decline by a high single-digit percentage, while PC shipments will drop by a low double-digit percentage (around 10–13%). What surprised me when I saw this table was that, contrary to the fear-mongering from many sell-side analysts, even though automotive DRAM prices have risen significantly, vehicle (automotive) shipments are actually expected to show solid growth. (Was I being too pessimistic?) And… the decline in low-end smartphone shipments seems much more severe than I thought… they’re projecting it could drop by nearly 50%…