Micron shares are surging after Bank of America significantly raised its price target, citing strong demand for memory chips driven by artificial intelligence.
- Bank of America increased its price target on Micron to $950 from a previous $500, while maintaining a "Buy" rating on the stock. [2, 11]
- The bank's analyst noted that memory demand is expected to continue outpacing supply due to the expansion of AI-driven workloads. [11]
- The upgrade reflects a growing bullish consensus on Wall Street regarding Micron's position in the AI-powered semiconductor boom. [2, 6]