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TSMC and ASML confirm strong AI memory demand; Micron backed by US-Japan for expansion amid supply limits.

Market News
21 Jul 2026
Seeking Alpha
View Source
Bullish
pluang ai news

TSMC and ASML have confirmed that demand for AI memory remains exceptionally strong, but industry supply growth is limited by fully booked EUV capacity through 2028. The US and Japan are investing billions to support Micron Technology's manufacturing expansion, enhancing long-term capacity and supply-chain resilience. Additionally, General Motors and Ford have signed long-term supply agreements with Micron, diversifying its customer base beyond hyperscalers with steady automotive AI memory demand. Despite strong earnings growth forecasts, Micron trades at a relatively low forward P/E of 11.6x, with risks including HBM4 technology execution and antitrust litigation.

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