Bank of America Sees 50% Upside for Micron on AI-Driven Memory Demand

Bank of America reiterates a Buy on Micron and lifts its price target to $1,550, signaling about 50% upside as AI-driven memory demand and disciplined supply could lift 2030 earnings to roughly $200–$250 per share with margins above 80%. The bull case hinges on strong demand and supply discipline seen in Sandisk’s investor day, but the analyst warns the memory cycle could stay cyclical if supply outruns demand, and MU’s valuation carries signs of caution.