Overview
- Micron shares fell about 10% on Monday, extending a five-day drop of roughly 20% and leaving the stock down as much as 30% since the March 18 earnings surge.
- Google’s TurboQuant, a memory compression method that it says can cut AI model memory needs by up to six times, sparked concern that future data centers could use fewer high‑bandwidth memory chips.
- Morgan Stanley’s Joseph Moore reiterated a Buy and called the pullback a healthy reset, while RBC projected DRAM price gains through 2026 into 2027 as HBM output ramps.
- Wells Fargo flagged pressure on the cost curve from efficiency advances, but Bank of America argued such gains often raise total memory use by enabling bigger context windows and higher accuracy.
- Micron just posted record revenue and earnings and said key customers are receiving only half to two‑thirds of needed supply, while it lifts fiscal‑year capex above $25 billion with major new capacity not expected until 2027 to 2028.