Micron Technology has signed 26 long-term agreements covering about $150 billion in orders, Chairman and CEO Sanjay Mehrotra said during the company’s earnings call, as the memory market is projected to face tighter supply-demand conditions in 2027 and 2028 than in 2026. Mehrotra said Micron sees no clear endpoint for a return to supply-demand balance. Fiscal 2027 first-quarter revenue is expected to reach $61.5 billion and earnings per share $38.15, with both continuing to rise sequentially. The quarter is expected to mark the low point for the full fiscal year’s gross margin, which is forecast to improve in subsequent quarters. Micron expects about $25 billion in capital spending during the first half of fiscal 2027, with spending higher in the second half and most incremental investment directed toward building new wafer fabs rather than simply buying equipment.