Bank of America: Micron's performance strengthens expectations for the memory supercycle, and industry's high prosperity may continue until 2027

Glonghui, June 29｜According to a recent research report from Bank of America, Micron’s strong performance and guidance further confirm that the global memory chip industry is currently in a super cycle. Supply-demand tensions and high-end product upgrades are expected to sustain the industry’s prosperity at least through 2027. Based on Micron’s financial report, Bank of America has raised its forecast for the global DRAM and NAND market size in 2026–2028 by 2% to 4%, respectively. The bank expects DRAM sales to grow 316% year-on-year in 2026, while NAND is expected to increase by 295%; in 2027, both are still expected to grow by 43% and 29%, respectively.Bank of America believes that as high-end products such as HBM continue to account for a larger share, and long-term agreements gradually become mainstream, memory manufacturers are expected to maintain high profitability while avoiding fierce price competition. The industry’s business model will further shift towards greater stability and higher profits.