Bank of America: Micron Technology's pullback is a buying opportunity, target price $1550

Bank of America (BofA) reiterated its "Buy" rating on Micron, with a target price of $1550, stating that the recent sell-off is an "enhanced buying opportunity." The bank expects memory prices to normalize starting in 2027-2028, but the fundamentals remain strong.

Bank of America predicts Micron's earnings per share for fiscal year 2028 to be around $150, and in a pessimistic scenario, about $100, still well above the previous cycle peak of around $12.