AI demand accelerates and hits production bottlenecks! Citi: Storage supply shortage is far from over, sees Micron Technology (MU.US) reaching $1300

Smart Finance APP reports that Citibank, in its latest research report, stated that it invited Micron Technology (MU.US) Chief Financial Officer Mark Murphy and Director of Investor Relations Jeff Grattan to attend an investor conference in Los Angeles. Overall, the bank believes that as hyperscale cloud service providers' demand driven by artificial intelligence (AI) continues to accelerate, the market is underestimating the potential for sustained tightness in DRAM/HBM supply. Meanwhile, as the benefits from process node shrinking continue to diminish, memory manufacturers must rely on long-cycle greenfield capacity expansions. Therefore, the supply of HBM and advanced memory may remain tight until 2027 and 2028.