In reported remarks from Micron’s September 30, 2026, earnings call, CFO Mark Murphy said memory-market conditions were expected to remain tight through 2028. COO Manish Bhatia said Micron had no line of sight to when supply and demand would balance.
Micron announced record fiscal fourth-quarter and full-year 2026 results on September 30. For the financial results, see our earlier report on Micron’s fiscal Q4 revenue.
Micron’s fiscal 2027 shipment commitments
Bhatia reportedly said more than 75% of Micron’s planned fiscal 2027 shipments were committed. He said those commitments let the company extend customer-allocation discussions into 2028.
Why Micron expects tight conditions
Micron tied its outlook to strong demand for memory used in AI infrastructure and to supply constraints that take time to address. Bhatia cited cleanroom space, construction timelines and the time needed to qualify capacity for production.
High-bandwidth memory (HBM), used in AI infrastructure, is also taking a growing share of industry capacity. Micron expected HBM shipments to grow faster than conventional DRAM through 2028, according to reported call remarks.
Micron also expected tight NAND conditions, even as industry NAND growth was forecast in the mid-20% range in calendar 2027 and 2028.
CFO Mark Murphy said much of Micron’s increased construction spending was aimed at accelerating cleanroom availability in 2028 and beyond.
