ab 1 July 2025 Global Research Memory Semis Monthly July '25 Edition: HBM supply / demand remains healthy HBM supply / demand to remain in check Investors often ask us whether the disconnect between our HBM supply forecasts (i.e., shipments from HBM vendors) and demand estimates (based upon end-consumption) should be cause for concern. For now, we do not believe so. HBM typically ships into consignment inventories at TSMC, ahead of the CoWoS process taking place. This then can last up to 2 months. The packa ...

Micron Technology (MU -0.61%) reported Q3 2025 earnings on June 25, 2025, with $9.3 billion in revenue, 39% gross margin (non-GAAP), and adjusted EPS of $1.91, all exceeding guidance. Record-setting data center revenues, aggressive HBM memory scaling, and a $200 billion domestic investment plan featured prominently; management forecasts Q4 revenue (non-GAAP) at $10.7 billion with a 42% gross margin midpoint, underpinned by ongoing AI-driven demand.HBM Outperformance Transforms Competitive Position and Produ ...