Bank of America has increased its earnings per share forecast for Micron Technology, projecting FY30 EPS to exceed $2.30. The revision reflects the brokerage’s view that fears of a peak demand cycle in memory chips are overstated.
Analysts cited sustained growth in artificial intelligence applications and data center demand as key drivers behind the upward revision. The bank’s optimism contrasts with broader market concerns over potential oversupply in the semiconductor sector.
Micron’s stock has faced volatility amid shifting perceptions of peak-cycle risks, particularly in DRAM and NAND markets. BofA’s forecast now aligns with a scenario where AI infrastructure investments continue to bolster chip demand through the decade.
The brokerage maintained a Buy rating on Micron shares, signaling confidence in the company’s long-term positioning despite near-term cyclical pressures.
