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Bank of America sees Micron pullback as buying chance amid strong AI and cloud demand.

Analyst Insights
04 Aug 2026
Proactive Investors
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Bullish
Bank of America sees Micron pullback as buying chance amid strong AI and cloud demand.

Bank of America maintains a 'Buy' rating on Micron Technology, viewing the recent stock price drop as a buying opportunity due to solid demand from cloud and AI infrastructure. Despite expected normalization of memory prices by 2027-2028, Micron's earnings are projected to remain well above past peaks even in downturn scenarios. The bank highlights factors like increasing long-term agreements, high GPU memory use, and sustained hyperscaler spending as supportive. Competition from China’s CXMT is seen as limited, and demand for AI-related memory remains strong with GPU rental rates near all-time highs.

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