Why BofA Thinks Micron Stock Could Be One of AI’s Biggest Long-Term Winners

Micron Technology (MU) once again reminded Wall Street why it remains one of the biggest beneficiaries of the artificial intelligence (AI) boom. After concerns emerged that China's new open-weight AI model, Kimi K3, could curb AI infrastructure spending, Bank of America reached the opposite conclusion.

Earlier this week, the firm reiterated its “Buy” rating and $1,550 price target on Micron stock, arguing that more efficient AI models could actually drive substantially higher demand for high-bandwidth memory (HBM), DDR5, and NAND storage. The bank sees roughly 65% potential upside from current levels. BofA believes Micron could be one of the biggest long-term winners of the next phase of the AI boom.