Micron signals HBM TAM crossing $100B in 2027 as it lifts FY26 CapEx to around $27B - MSN

Micron Technology forecasts the HBM (High Bandwidth Memory) market to surpass $100 billion in 2027, earlier than previously expected. This reflects strong demand in AI, data centers, and high-performa... Read original →

Micron’s $100B+ HBM TAM forecast by 2027 reflects the memory bottleneck in AI scaling. Technically, HBM3E/4 demands higher yields in TSV and hybrid bonding, pressuring ASML and Tokyo Electron to accelerate tool innovation while boosting bargaining power for advanced OSATs in Taiwan, China and Korea. Geopolitically, U.S. export controls now explicitly target memory tech, forcing Micron to absorb 'friend-shoring' costs via India/Japan expansions despite CHIPS Act subsidies. In response to Samsung and SK hynix’s aggressive HBM4 ramp, Micron’s $22B+ LTAs are less about revenue assurance than ecosystem lock-in. Over the next 18 months, HBM overcapacity will squeeze legacy DRAM margins, while firms mastering wafer-level testing and heterogeneous integration will dictate pricing—marking memory’s shift from commodity to platform.