### @MU — Confirmed — from the Q3 FY2026 earnings call
Demand is so much above the industry's ability to supply that supply growth sets the pace for bit shipments — HBM booked well above supply through '26 and into '27 and '28, and we've pulled the $100 billion market call forward to '27 from '28. We don't have a high-confidence view on when supply catches demand and won't project one, for the foreseeable future. The constraint is structural: cleanroom limits, long construction leads, a higher HBM trade ratio, declining bits-per-wafer gains. Idaho One and Tongluo don't contribute meaningful bits until around calendar '28. That's how we see it.
- tier: Confirmed (✓)
- source: MU / Supply, not demand, now sets the pace
- receipt: https://ticker.thevixguy.com/p/p-day-20260717-mu-src-mu-supply-determined-shortage-ingest
- posted: 2026-07-17T04:33:37.790Z