Analysis: Semiconductor Wafer Pricing Bottoms in 2025, Driving Diverging Cost, Margin, and Supply Dynamics in 2026

Wafer pricing bottoms in 2025 as recovery starts in 2026, led by memory and ICs, while Discrete/Power and SiC remain under pressure.

Semiconductor wafer pricing has reached a cyclical bottom in 2025 following a sharp correction in 2023–2024, with early signs of recovery emerging in 2026. This recovery is being led primarily by IC segments, particularly memory, where tightening supply and strong AI-driven demand are supporting pricing increases. However, the recovery remains uneven across the industry. Discrete/Power—especially SiC—continues to experience pricing pressure and cost volatility, while emerging geopolitical developments introduce new uncertainty into the cost outlook for the remainder of 2026.