en.Wedoany.com Reported - U.S. memory semiconductor company Micron will release its fiscal third-quarter earnings on June 24, serving as the first key signal to test whether the memory super cycle driven by the AI investment boom will persist. As Micron reports earnings before Samsung Electronics and SK Hynix, its results are seen as an industry bellwether for understanding DRAM price trends, high-bandwidth memory demand, and major customer order dynamics. The market is closely watching the HBM4 and HBM4E roadmaps and capital expenditure plans, which could serve as a watershed for determining the duration of the memory price upcycle and the evolving competitive landscape for next-generation HBM.

The market expects Micron's third-quarter revenue to be $34.8 billion (approximately 53 trillion won), with earnings per share of $19.82, up over 60% from $12.20 in the previous quarter. The company previously guided gross margins as high as 81%. If this level is achieved, it could be interpreted as the memory industry entering a stronger upswing than in the past. Micron's earnings are closely watched due to their strong industry bellwether nature. As Samsung Electronics and SK Hynix are set to report results next month, Micron will first disclose major customer order dynamics, memory price trends, and capacity expansion plans. Recently, the memory market has simultaneously experienced a surge in HBM demand driven by expanded AI server investment and a spike in general DRAM prices. According to market research firm TrendForce, general DRAM fixed transaction prices rose 93% to 98% quarter-over-quarter in the first quarter of this year, with an expected further increase of 58% to 63% in the second quarter. Tight supply in server memory and even mobile DRAM has led customers to accept price hikes and compete for inventory. Apple recently formally mentioned cost pressures from rising memory prices, which is also seen as a reflection of market conditions.

The industry is most focused on the competitive landscape for next-generation HBM. This earnings release is likely to publicly disclose the development progress of HBM4 and HBM4E, corresponding to Nvidia's next-generation AI platform "Vera Rubin" and its follow-up product "Rubin Ultra." Samsung Electronics began supplying HBM4E samples last month, and SK Hynix recently provided HBM4E 12-layer samples to key customers, accelerating the technology race. Micron is also developing HBM4E with a target of mass production next year. As Nvidia accelerates the generational update cycle of AI accelerators, competition to capture the next-generation HBM market is intensifying. The industry is particularly focused on how specific Micron's post-HBM4 roadmap and capacity plans will be. Given that Samsung Electronics and SK Hynix have already positioned HBM4E as the next growth engine, Micron's strategy will be a key clue for judging the future competitive landscape among the three memory giants.

Capital expenditure plans are also a core variable. Micron plans to expand this year's capital expenditure to over $25 billion (approximately 38 trillion won), exceeding market expectations. The company is expected to further increase investment next year, but the timing for new capacity to hit the market in large volumes is expected to be after next year. An industry insider in the semiconductor sector said that the key to Micron's earnings this time lies not in the numbers themselves, but in the supply-demand outlook. If the company signals that "supply shortages will persist for a considerable period amid expanded AI investment," then the upward trend in memory prices may be more sustained than expected.

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