Micron CEO Expects Memory Supply To Improve Gradually In 2028, But There's No 'Line Of Sight' When It Wil

Micron CEO Sanjay Mehrotra said the memory supply outlook will likely improve gradually in 2028, but the company lacks “line of sight” on when supply will fully catch up with demand. Speaking on Micron’s fiscal third-quarter 2026 earnings call, he pointed to the difficulty of adding capacity, which depends on costly, complex, and time-consuming large-scale greenfield semiconductor fabs. Mehrotra cited constraints including long construction timelines, labor shortages, regulatory hurdles and growing energy infrastructure needs. He also warned that High Bandwidth Memory (HBM) adoption is increasing pressure on global memory supply because advanced products require more manufacturing resources. In NAND flash, some suppliers are reportedly reallocating cleanroom space toward DRAM, limiting NAND growth. Micron reported $41.46 billion revenue and $25.11 adjusted EPS, up 346% year over year.