tl;dr: Micron CEO Sanjay Mehrotra says memory and storage supply will be significantly tighter in fiscal 2027 and 2028 than in 2026, with no clear line of sight to supply-demand balance even accounting for planned DRAM cleanroom expansions. Over 75% of Micron's 2027 output is already committed to customers, and its new Idaho ID2 fab won't produce wafers until late 2028. Last quarter, DRAM prices rose in the high teens percent and NAND jumped roughly 30%.