Micron Technology (MU) shares dropped in late July when a Chinese rival's stock market debut instantly minted one of the country's most valuable companies.
Investors read it as a warning sign for the world's AI memory leaders. Bank of America read the same headlines and reached the opposite conclusion.
On August 3, BofA ***** yst Vivek Arya reiterated his Buy rating on Micron and held his price objective at $1,550, implying steep upside from current levels, according to a BofA Research note. Shares climbed as much as 8.3% that day.
That anxiety is understandable on the surface. CXMT, formally ChangXin Memory Technologies, held just 8% of the global DRAM market as of the second quarter, compared with Micron's 22%, according to Counterpoint Research data cited by CNBC. But the company is scaling capacity at a pace few Western chipmakers have managed.
Related: Bank of America doubles down on Micron stock price for 2026
#bofa
Investors read it as a warning sign for the world's AI memory leaders. Bank of America read the same headlines and reached the opposite conclusion.
On August 3, BofA ***** yst Vivek Arya reiterated his Buy rating on Micron and held his price objective at $1,550, implying steep upside from current levels, according to a BofA Research note. Shares climbed as much as 8.3% that day.
That anxiety is understandable on the surface. CXMT, formally ChangXin Memory Technologies, held just 8% of the global DRAM market as of the second quarter, compared with Micron's 22%, according to Counterpoint Research data cited by CNBC. But the company is scaling capacity at a pace few Western chipmakers have managed.
Related: Bank of America doubles down on Micron stock price for 2026
#bofa
3 months ago
