Micron Sees Tighter Memory Supply Through 2028

Micron expects memory and storage supply-demand conditions to tighten in 2027 and 2028 compared with 2026, CEO Sanjay Mehrotra said, warning that the company cannot identify when supply will return to balance. The forecast reflects Micron’s outlook, not a confirmed outcome, and leaves the severity and duration of any shortages uncertain. Mehrotra said more than 75% of Micron’s 2027 output had already been committed, with most customer discussions focused on 2028. He said some customers were seeking assurances beyond 2030, though the company did not give a date for when the market might rebalance. Micron expects industry shipments of DRAM and NAND to grow over the next two years, but the reports describe the forecast differently: one account put growth at about 20%, while another characterized it as in the low-to-mid-20s percentage range. The estimates were not reconciled, and the actual pace of shipments relative to demand remains uncertain. The company said new manufacturing facilities are unlikely to ease constraints immediately. Cleanrooms take time to build, and production rises gradually after a facility begins producing its first wafers, according to Mehrotra.