HBM was built for Artificial Intelligence. It's not where data sits. It's where AI thinks. Stupid analysts keep pricing it like a storage commodity cycle. You and I are the contrarians on the other side of that trade. Stay early. Stay right. $MU $SKHY $SNDK

Micron says shortages in HBM, DRAM, and NAND could continue well beyond 2026. Demand for AI hardware is growing far faster than production capacity can expand. Several technical factors are driving the bottleneck: >Newer HBM generations use much larger die sizes, which reduces the number of usable chips per wafer. >Performance gains between memory generations are slowing, so capacity scaling is becoming less efficient. >Advanced DRAM manufacturing increasingly depends on EUV lithography, which is expensive and slower to ramp at scale. >HBM production also consumes disproportionate wafer capacity compared with standard DDR memory, squeezing broader DRAM availability. These pressures are spreading across the tech industry. AI companies and cloud providers keep locking in memory supplies early

💾 Server DRAM Isn't Safe Either: HBM's Crowd-Out Effect Is Not Easing. Cloud titans' aggressive AI infrastructure expansion continues to drive demand for HBM, server DRAM, and SOCAMM into 2027. With top suppliers prioritizing HBM in capacity allocation, the crowd-out effect has grown severe, leaving server DRAM supply increasingly constrained. TrendForce forecasts supply bit growth of just 24% in 2027, well short of market demand, sustaining a DRAM shortage throughout the year. Decode the 2027 DRAM deficit 👉 Explore the memory hierarchy shift 📖 #TrendForce# #SelectedTopics#

$MU $SKHY $DRAM Just Remember HBM pricing is expected to nearly TRIPLE by Q4 2027. Not stabilize. Not hold. Triple. Volatility is driven by fear. The thesis is driven by data.

$MU $SKHY $DRAM The total HBM demand picture across all accelerator platforms is stacking higher every quarter. “Demand for XPUs and networking is simply insatiable. During the quarter, bookings for AI semiconductors were over $30 billion against the $10.8 billion we shipped.... In the second half of 2026, we expect AI semiconductor revenue to double from the first half... For the full year 2026, we expect to achieve AI semiconductor revenue of $56 billion... We expect this momentum to continue into fiscal year 2027 and reiterate our AI semiconductor revenue guidance to be in excess of $100 billion.” - $AVGO Broadcom CEO The accelerators are the processors, but they can't think without the HBM attached. Every XPU booking is an HBM booking.