Micron forecasts HBM TAM crossing $100B in 2027, locks in historically high prices for five years, lifts FY26 CapEx to ~$27B

Micron's earnings results triggered a rally in Asian equities, with the chipmaker's outlook easing investor concerns about AI-driven semiconductor demand. The positive market reaction reflects confidence in sustained strength across critical AI infrastructure components.

Micron forecasts the high-bandwidth memory (HBM) market will exceed $100 billion in 2027, underscoring the massive AI accelerator buildout under way globally. The company has locked in prices at historically elevated levels for the next five years, securing favorable margins for premium memory components essential to AI chips. This pricing security signals strong demand visibility across the AI supply chain.

Micron is raising fiscal 2026 capital expenditures to approximately $27 billion, demonstrating aggressive commitment to meeting surging demand for memory and storage solutions powering AI workloads. The substantial capacity expansion reinforces the continued momentum in AI infrastructure investment, with memory supply becoming a critical bottleneck easing as producers like Micron accelerate production.