When lead times grow, companies start ordering further and further out to make sure they won’t get stuck waiting in line.

The whole “sold out until end of 2027” thing should not be taken nearly so literally. Yes, memory is in high demand, but that doesn’t mean there’s literally a year and a half worth of gap between production capacity and demand. If someone magiced tons of memory into existance, most of those orders would not be ready to take delivery. We saw the same thing with the automotive chip shortages. There were tons of articles about crazy lead times, then once supply started catching up again it was suddenly a non issue.