MU vs Samsung vs SK Hynix

“The dramatic increase in HBM demand is further challenging the supply environment due to the three-to-one trade ratio with DDR5, and this trade ratio only increases with future generations of HBM.”

“we will continue to increase sales of HBM4, high density DDR5, and ESSD to expand profitability”

“the memory demand from our major customers is increasing across the board, including HBM, server DRAM, and ESSD. On the other hand, for the suppliers, the reality is that the suppliers find it hard-pressed to increase supply in the short term.”

“in 2026, supply on HBM will be tight. A non-HBM DRAM will be tight as well.”

“despite this rising demand, because of the industry-wide constraints in expanding capacity, the supply shortage has actually become more intense relative to robust demands”

“We have completed agreements on price and volume for our entire calendar 2026 HBM supply, including Micron's industry-leading HBM4.”

“we started shipping industries first, mass-produced HBM4 and SOCAM2”

“Together, these demand and supply factors are driving tight industry conditions across DRAM and NAND, and we expect tightness to persist through and beyond calendar 2026.”

“for NAND, considering limited available capacity from a reduced inventory level in the first quarter, big growth is expected to be constrained at the low single-digit level QonQ”

“We believe that the aggregate industry supply will remain substantially short of the demand for the foreseeable future.”

“our demand fulfillment rate is now at a record low. Unlike previous years, customers who are concerned about supply shortages are actually bringing forward their demand for 2027 already. So currently, just based on pre-booked demand alone, the supply-demand gap is looking to widen further in 2027 versus this year.”

“We are pulling in equipment orders and accelerating installation timelines to maximize output capability.”

“our CAPEX this year is expected to increase significantly compared with last year, with the majority allocated to infrastructure preparation centered on the Yongin Cluster and ramp-up of M15x and to the procurement of key equipment such as EUV tools.”

“We anticipate substantial new records in revenue, gross margin, EPS, and free cash flow for both the second quarter and the full fiscal year 2026, and we expect our business performance to continue to strengthen through the year.”

“first quarter revenue increased by 60% QOQ and 198% YOY to 52.6 trillion won, surpassing 50 trillion won mark for the first time on a quarterly basis and setting a new record high for quarterly revenue.”