$MU CEO is saying the memory shortage is structural, not a normal cyclical squeeze

The key reason is that AI demand is absorbing massive memory capacity, mainly through HBM, which uses far more wafer capacity than standard DRAM
As memory makers shift production toward HBM, supply for DDR4, DDR5, automotive DRAM, smartphones, networking, and other segments becomes tighter
The other important point is that new meaningful supply will not ramp until around 2028, even with Micron investing heavily in Idaho, Virginia, and New York. That means the market could remain short through 2026 and 2027
Other industry players are saying similar things. Nanya expects scarcity to continue into 2027, while SK Hynix has suggested the shortage could last until the end of the decade