Analyst Cuts Micron’s Nvidia HBM4 Supply Forecast to Zero, Shares Fall 3.8%
An analyst eliminated Micron’s 2026 HBM4 memory chip supply forecast for Nvidia, leading Micron shares to drop about 3.8% on February 6. The zero-unit projection raises concerns over Nvidia’s next-gen AI GPU capacity and further pressures Micron’s DRAM revenue and margin outlook.
1. Analyst Slashes HBM4 Forecast
A leading semiconductor analyst removed Micron’s HBM4 supply projection to Nvidia for 2026, citing development delays and potential design changes at Nvidia. The decision marks the first time a zero-unit forecast has been issued for HBM4 chips in the GPU market.
2. Impact on Micron Stock
News of the forecast cut triggered a 3.8% decline in Micron’s share price on February 6, erasing roughly $3.5 billion in market value. Investors expressed concern over reduced revenue visibility and margin pressure in Micron’s high-bandwidth memory segment.
3. Implications for Nvidia
With zero HBM4 units projected from Micron, Nvidia may face tighter supplies for its upcoming AI data center GPUs, potentially forcing the company to seek alternative memory sources or adjust product roadmaps. Market participants will watch closely for announcements on new memory partnerships or revised launch timelines.