UBS analysts say Micron's long-term customer contracts are sufficiently robust,
with low minimum-price floors, to survive market weakness for the next few
years. UBS estimates sufficient incremental supply to breach those floors and
prompt customers to consider default is unlikely before 2029 and is more likely
in 2030. Micron has also taken customer prepayments UBS estimates at roughly
$40–50 billion, which would provide a substantial buffer against defaults if
conditions worsen.
