Artificial Intelligence Boosts Micron Technology’s Future: Bank of America Raises Price Target and Forecasts Sales and Earnings

Bank of America has recently raised its price target for Micron Technology, citing the growing demand for artificial intelligence (AI)-powered personal computers as the reason for its optimism. The bank has named Micron as its top pick among U.S. memory chipmakers, and researchers at BofA have also increased their sales and earnings per share outlook for the company.

Following this announcement, shares of Micron Technology reached an intraday record high on Monday. BofA raised the price target for Micron to $170 from $144, labeling it as the top memory company in the U.S. The researchers believe that the growing market for AI features in Edge AI will benefit manufacturers of compute and memory chips.

Bank of America highlighted the rising demand for AI-powered PCs as a key driver for Micron’s success. They noted that the need for more memory in AI-powered computers, along with their higher price, is contributing to the increased sales outlook for Micron in the years to come. This has led to a 10% and 12% increase in sales outlook for 2025 and 2026, respectively, as well as a 20% and 21% boost in earnings per share forecast for the same years.

At present, Micron Technology shares are trading at $144.79, showing a 2.4% increase from earlier trading. The stock had reached a record high of $146.29 during the session, further solidifying its position as a top pick among memory chipmakers. So far this year, Micron shares have seen an increase of nearly 70%.