Micron CEO Says Memory Supply Will Be Much Tighter in 2027 and 2028 Than in 2026

美光首席执行官：2027年和2028年的内存供应将比2026年更加紧张

Micron CEO Sanjay Mehrotra says memory and storage supply will likely be much tighter in 2027 and 2028 than it was in 2026. He made the remarks during Micron’s fiscal Q4 2026 earnings call on September 30, where the company reported record quarterly revenue of $54.2 billion. 美光首席执行官桑杰·梅赫罗特拉（Sanjay Mehrotra）表示，2027年和2028年的内存和存储供应情况可能会比2026年紧张得多。他在9月30日美光2026财年第四季度财报电话会议上发表了上述言论，该公司在会上报告了542亿美元的创纪录季度营收。

Here’s what he said: “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. AI is becoming super intelligent, and memory enhances this intelligence and the competitiveness of our customers’ platforms. Even with additional industry DRAM clean room space plans with robust demand trends, including new upside requests from customers, we do not have line of sight to when supply and demand will return to balance.” 他表示：“自上次财报电话会议以来，行业需求有所增强，我们预计2027和2028财年的内存和存储供需状况将比2026年紧张得多。人工智能正变得超级智能，而内存增强了这种智能以及我们客户平台的竞争力。尽管行业有增加DRAM无尘室空间的计划，且需求趋势强劲，包括来自客户的新的上行需求，但我们目前仍无法预见供需何时能恢复平衡。”

In June, Micron CEO said they expected industry supply to improve gradually in 2028, but couldn’t predict when supply would catch up with demand. The company now says it still has no line of sight to a balance, even with additional industry cleanroom space planned. New capacity takes time as well, since Micron’s Idaho ID2 fab is only expected to start wafer output in late 2028. 今年6月，美光首席执行官曾表示，预计行业供应将在2028年逐步改善，但无法预测供应何时能赶上需求。该公司现在表示，即便计划了额外的行业无尘室空间，仍无法预见供需平衡的时间点。新产能的建设也需要时间，因为美光位于爱达荷州的ID2晶圆厂预计要到2028年底才能开始晶圆产出。

Mehrotra also said more than 75% of Micron’s 2027 output is already committed to customers. On the consumer side, Micron said DRAM prices rose in the high-teens percent range last quarter, with NAND up about 30%. It looks like relief isn’t close, although these are company projections and could change. 梅赫罗特拉还透露，美光2027年超过75%的产能已经预订给了客户。在消费端方面，美光表示上季度DRAM价格上涨了百分之十几，NAND价格上涨了约30%。看起来短期内供应紧张的局面难以缓解，尽管这些只是公司的预测，未来仍可能发生变化。