From Nanya Technology’s earnings call: Q: How likely is AI to drive a prolonged structural DRAM shortage? A: We believe this is highly likely. Long lead times for new fabs, equipment, and process transitions make it difficult to resolve the shortage through 2027 and into early 2028. Whether AI investment continues to generate sufficient returns is the key variable for the long-term supply-demand balance. Q: What is the potential for bit shipment growth in 2027? A: Inventories have been depleted, and there is limited room for additional supply until the new fab ramps up. We therefore expect virtually no bit shipment growth in early 2027, with shipments remaining flat for several quarters. Wafer output from the new fab is expected to begin in 2H27.(Historical earnings: For fiscal 2026 Q3 (period ended 2026-05-28), Micron Technology reported basic EPS of 41.97, diluted EPS of 41.4, and net income of USD 47.268 billion. In the prior-year period (ended 2025-05-29), basic EPS was 4.79, diluted EPS was 4.75, and net income was USD 5.338 billion. For fiscal 2026 Q2 (period ended 2026-02-26), basic EPS was 16.91, diluted EPS was 16.68, and net income was USD 19.025 billion; the prior-year period (ended 2025-02-27) had basic EPS of 3.1, diluted EPS of 3.08, and net income of USD 3.453 billion. Consensus expectations: The next upcoming consensus is for fiscal 2026 Q4, with an EPS estimate of 32.5625 and no revenue estimate available.)