“Industry demand has strengthened since our last earnings call, and we expect memory and storage supply-demand conditions to be much tighter in fiscal 2027 and 2028 than they were in 2026.”

Made alongside record quarterly revenue of $54.2 billion and fiscal Q1 2027 guidance of $61.5 billion; Micron says over 75% of 2027 output is already committed and HBM largely sold out.