Overview
- CFO Mark Murphy told investors at Wolfe Research in New York that HBM4 is in large-scale production and customer shipments began a quarter earlier than guided.
- Micron’s stock jumped roughly 5%–10% on Wednesday and rose again Thursday morning following the confirmation of the accelerated timeline.
- Analysts boosted targets and reaffirmed bullish views, including Morgan Stanley to $450 and Deutsche Bank to $500.
- Industry reporting points to persistent tightness in HBM and DRAM, with most 2026 HBM output already sold under long‑term contracts.
- Micron says its 2026 production is covered by sales agreements as it ramps capacity, including planned expansions and work with Powerchip.