Micron Technology (MU) Wolfe Research Auto, Auto Tech and Semiconductor Conference 2026 summary

Business and market outlook

• Financial outlook and business trajectory have strengthened, with demand outpacing supply and tightness expected beyond 2026.

• AI-driven demand is fueling growth, requiring higher performance memory and storage across data centers, edge, and devices.

• Supply constraints are significant, with some customers only receiving 50% to two-thirds of their needs.

• New clean room and fab investments in New York, Singapore, and Taiwan are planned to address future supply.

• Favorable pricing environment is supporting improved financial performance.

Technology and product developments

• High-volume production and customer shipments of HBM4 have commenced, with ramping ahead of schedule.

• HBM4 product delivers over 11 Gbps speeds, with yields and performance on track.

• HBM share is now in line with conventional DRAM share, with flexibility to direct supply where value is highest.

• LPDRAM and NAND innovations are enhancing efficiency and value for customers, with LPDRAM offering 60% lower power than DDR.

• NAND portfolio is focused on data center SSDs, with strong share gains and a billion-dollar run rate.

Customer agreements and supply planning

• Multi-year supply agreements with specific commitments are progressing, reflecting the strategic importance of memory and storage.

• Customers are seeking longer-term visibility and supply assurance, with time horizons extending due to increased CapEx and technology roadmaps.

• U.S. supply is becoming more attractive to customers, supporting tighter arrangements.

• Agreements provide clarity for capital and R&D investments.