Micron CEO warns RAM shortage will last through 2027, relief not expected until 2028

Micron CEO Sanjay Mehrotra said in the company's Q3 2026 earnings report that the current RAM shortage isn't going away anytime soon — tight supply conditions are expected to persist beyond 2027, with only gradual improvement possible in 2028.

Mehrotra was direct about the outlook: "We expect tight conditions to persist beyond calendar 2027 as a result of AI-driven demand across all segments coupled with structural supply constraints." Even that cautious optimism about 2028 comes with a caveat — "we currently do not have line of sight as to when memory supply will be able to catch up with increasing demand." The root cause is AI data center demand, which has driven semiconductor prices sharply higher over the past few years and shows no sign of slowing. Micron itself exited the consumer market late last year, shutting down its Crucial brand — which made widely recommended SSDs and RAM kits — to focus entirely on its data center business.

The ripple effects are already hitting gaming hardware hard. RAM, VRAM in graphics cards, and SSDs have all climbed in price, and full systems are feeling it too. The Steam Machine is a clear example: it was originally targeted at around $750 but launched at $1,050 because of underlying hardware costs. The PS5, Xbox Series X, and other consumer platforms are similarly affected. With no end to the shortage in sight before 2028 at the earliest, next-generation consoles like the PlayStation 6 or Xbox Project Helix launching at accessible price points looks increasingly unlikely.

For PC builders and console gamers alike, Mehrotra's comments are a reality check — hardware prices aren't coming down in the near term, and anyone hoping for relief before 2028 shouldn't hold their breath.