Micron Surges 10% as Analysts Forecast Memory Chip Shortage Through End of 2028

According to Marketwatch, Micron Technologies (MU) stock surged nearly 10% on Monday (June 8), rebounding sharply after a 13% decline on Friday amid semiconductor sector profit-taking. The memory chip sector rose in tandem, with SanDisk gaining over 5% and Western Digital and Seagate also advancing.

Cantor Fitzgerald analyst C.J. Muse predicts the memory market will face structural shifts driven by AI demand, supply constraints, and long-term supply contracts. Muse forecasts DRAM and NAND markets will remain in deficit from 2026 through end of 2028, as AI data center expansion and agentic AI applications drive concurrent CPU and memory demand growth faster than suppliers can increase capacity. By year-end, approximately 50% of DRAM and NAND bit capacity is projected to be sold via long-term contracts with pricing guarantees.