Micron Technology(US:MU) Zhi Tong Cai Jing·2026-01-19 04:12Core Viewpoint - Micron Technology plans to acquire a wafer fabrication facility in Taiwan from Powerchip Semiconductor Manufacturing Corporation for $1.8 billion to expand its DRAM production capacity, with significant output expected by the second half of 2027 [1] Group 1: Company Developments - Micron Technology will take over Powerchip's P5 facility in Taiwan and aims to gradually increase DRAM production post-transaction completion in Q2 [1] - The company is also collaborating with Powerchip on wafer-level packaging and assembly for traditional DRAM products [1] - Micron's stock rose 7.76% following the groundbreaking ceremony for a $100 billion memory manufacturing complex in New York, which will become the largest semiconductor manufacturing base in the U.S. and one of the most advanced globally [1] Group 2: Industry Trends - The storage industry is entering a "super cycle" driven by the demand for AI infrastructure, with Micron's stock increasing over 240% since 2025 and nearly 27% this year [2] - The demand for storage capacity and bandwidth from AI servers significantly exceeds that of traditional servers, leading to price increases in the storage sector [2] - The current "super cycle" is expected to last through 2026, with Micron projecting Q2 FY2026 revenue between $18.3 billion and $19.1 billion, surpassing market expectations [2] Group 3: Analyst Insights - Citigroup analysts predict a dramatic increase in storage chip prices in 2026, with DRAM average selling prices expected to rise by 88% and NAND prices by 74% [3] - Nomura analysts believe the storage industry's super cycle will continue at least until 2027, with significant new supply not expected until early 2028 [3] - Micron's internal confidence is reflected in a recent stock purchase by board member Teyin Liu, who bought 23,200 shares for $7.8 million [3]