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Bank of America raises Micron target to $1,550
Bank of America has reported that Micron Technology may be headed toward a more stable and higher-profit phase, with expectations that earnings per share could reach between $200 and $250 by 2030, with a compound annual growth rate exceeding 30% starting from 2026. The bank has raised its target price for the stock to $1,550, representing an increase of approximately 50% from current levels, driven by the rising demand for memory chips fueled by artificial intelligence, supply management trends, and long-term agreements with customers. The memory chip industry is seen as possibly experiencing sustainability and reducing the impact of previous economic cycles, with 30 analysts rating Micron's shares with a "strong buy" recommendation.
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