The AI Memory Shortage Just Entered Year 2. These 3 ETFs Own Every Layer From DRAM to HBM

Micron said the AI memory shortage is persisting into its second calendar year, guiding fiscal Q4 2026 revenue to roughly $50B while HBM4 qualification samples remain rationed across lead customers. The continued supply constraints suggest limited near-term upsides for volume shipments despite the elevated revenue run-rate. Overall, the outlook is supportive on revenue level but cautious given ongoing rationing and qualification timing.

Analysis

Micron said the AI memory shortage is persisting into its second calendar year, guiding fiscal Q4 2026 revenue to roughly $50B while HBM4 qualification samples remain rationed across lead customers. The continued supply constraints suggest limited near-term upsides for volume shipments despite the elevated revenue run-rate. Overall, the outlook is supportive on revenue level but cautious given ongoing rationing and qualification timing.