Micron: AI Demand
Micron expects AI-driven demand to keep memory markets tight beyond 2027
Does Not Yet Have Visibility On When Memory Supply Will Catch Up With Demand Expects FY2026 Capital Expenditure Of Approximately $27B Sees Fiscal Q4 Capital Expenditure Of Around $10B; Quarterly FY2027 Capex Expected Above Q4 Levels Projects FY2027 Operating Expenses To Increase By Approximately $1B Strategic Customer Agreements Signed To Date Expected To Generate $22B In Cash Deposits And Related Financial Commitments Intends To Increase Capital Returns; Expects To Return 100% Of Excess Cash To Shareholders Over Time Guidance Does Not Include Potential Trade Or Geopolitical Impacts