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Bank of America boosts Micron price target to $1550
Bank of America has raised the target price for Micron Technology's shares from $1,250 to $1,550, supporting its forecast of robust earnings growth exceeding 30% annually starting from 2026. This projection is based on accumulated orders and long-term agreements from customers, as well as strong demand driven by artificial intelligence. The bank sees the memory chip industry moving toward greater stability after a period of volatility, with optimistic profit expectations and revenue reaching over $41 billion in the last quarter. Current valuations suggest the stock price could increase by up to 50% from current levels, with most analysts rating Micron shares as a "strong buy."
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