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Bank of America Reiterates 'Buy' Rating on Micron with $1,550 Price Target

GateNews
MU7.78%
According to Bank of America Securities, the bank recently reiterated its 'Buy' rating on Micron Technology and maintained a price target of $1,550 per share. The report noted that recent semiconductor sector pullback represents a normal market correction rather than a sign of weakening AI demand. Bank of America forecasts that global cloud computing and AI infrastructure capital expenditures will reach approximately $1.5 trillion by 2027, representing 40-50% growth from current levels. The bank expects memory chip demand—driven by HBM, DDR5, and enterprise storage requirements alongside AI server expansion—to remain a key beneficiary of the ongoing AI investment cycle, with clear room for valuation recovery.
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