Quarterly guidance

Bit growth
Single-digit sequential growth.
Cost growth
Double-digit growth for both DRAM and NAND.

Annual guidance

R&D spending
Over $1 billion in fiscal 2027.

Outlook

Market tightness
Expects supply and demand to remain tight through 2028.
HBM demand
HBM shipments are expected to grow faster than conventional DRAM through 2028.
Server units
Server units are growing strongly in the high teens.
Clean room availability
Construction CapEx is being accelerated to bring clean room space online in late 2028 and beyond.
Technology leadership
Micron remains at least two nodes ahead of China competition.